Flying Eagle Acquisition Corporation (NYSE:FEAC) announced in an 8-K filing that its shareholders approved its combination with mobile esports company Skillz with negligible redemptions.
The approval vote passed almost unanimously at the special meeting December 16 with a result that matches the market’s enthusiasm for the deal. Flying Eagle opened trading at $18.20 today, but, because there are somehow always a few, 2,140 shares were redeemed, taking $10 per share instead.
Other measures up for a vote at the meeting received some dissention with about 18% of participating shares voting against measures giving class B shares the weight of 20 votes each moving forward and making it easier for management to make governance changes.
Flying Eagle initially announced its $3.5 billion combination with Skillz on September 2. Skillz’s platform connects mobile gamers who pay entry fees to compete in tournaments against each other hoping to win prizes. Skillz takes a 14% cut of each fee with the rest going to prizes or profit shares with developers.
For a full list of measures on Flying Eagle’s ballot with vote tallies, click HERE.
At the SPAC of Dawn It has clearly taken some time for SPACs to break out from their niche, but SPACs and de-SPACs are suddenly everywhere in current events. As the Russian invasion of Ukraine drags on, one of the most prolific SPAC teams has stepped forward with a letter of intent to take Ukraine’s...
Live Oak Acquisition Corp. V (NASDAQ:LOKVU) has filed for a $200 million IPO that brings another serial SPAC team back to the mix for a generalist search but with a pair of technology deals already in their pocket. The new S-1 also puts Santander on the board for the 2025 SPAC market after it made...
CH4 Natural Solutions (NYSE:MTNE.U) has filed for a $250 million SPAC to bring both the Riverstone sponsor team and underwriter Citigroup back to the market for 2025. The team secured notably sponsor-friendly terms for the vehicle and will not overfund its trust. In fact, along with fellow Friday filer Live Oak V (NASDAQ:LOKVU), these two...
At the SPAC of Dawn Amid a restive market, SPACs have front-loaded their business this week with three of their four votes set for today and tomorrow. One of these is a completion vote, in which Bowen (NASDAQ:BOWN) will try and secure shareholder approval for its combination with Shenzhen Qianzhi BioTechnology just after having gained...
Terms Tracker for the Week Ending January 10, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This was the first full week in January and the first non-holiday week since December 23rd. All the same, 2025 has started with a bang...