GS Acquisition Holdings Corp II (NYSE:GSAH) pre-announced its redemption amounts this morning in a press release ahead of its shareholder meeting tomorrow to vote on its combination with nuclear services and radiology firm Mirion Technologies (“Mirion”).
Approximately 26.1% shares were redeemed in connection to the business combination, but the deadline for stockholders to withdraw any election to redeem their shares will be tomorrow, October 19 at 5:00 p.m. GSAH reported that the transaction is expected to generate approximately $554 million from its trust, $900 million from a PIPE, and $830 million from a senior secured term loan financing.
A portion of the proceeds will be used to pay $1.3 billion to existing Mirion stockholders, to refinance approximately $909 million of existing Mirion third-party debt and to pay transaction expenses.
Assuming the merger is approved at tomorrow’s meeting, GSAH expects to close the deal on Wednesday, October 20. The combined company’s stock and public warrants are expected to begin trading on the New York Stock Exchange under the symbols “MIR” and “MIRW”, respectively.
The parties initially announced the $2.6 billion deal on June 17. San Ramon, California-based Mirion provides radiation detection equipment and services to sectors ranging from nuclear power generation to defense and nuclear medicine.
ADVISORS
- Goldman Sachs & Co. LLC acted as lead placement agent and exclusive financial advisor to GSAH.
- Lazard Ltd. and HSBC acted as financial advisors to Charterhouse and Mirion.
- Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc. are providing committed debt financing in support of the transaction.
- Weil, Gotshal & Manges LLP acted as legal advisor to GSAH.
- Davis Polk & Wardwell LLP acted as legal advisor to Mirion
- Freshfields Bruckhaus Deringer LLP acted as legal advisor to Charterhouse.
- Sullivan & Cromwell LLP acted as legal advisor to Goldman Sachs & Co. LLC as lead placement agent.
- Milbank LLP acted as legal advisor to Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc.
AGBA (NASDAQ:AGBA) stock is up over +90% this morning following a +211% premarket spike on news it has signed a definitive agreement to combine with social streaming video platform Triller. AGBA, the company itself, was formed by the $555 million combination between a SPAC of the same name and TAG Companies, a financial services firm...
At the SPAC of Dawn Since closing its combination with DHC last month, AI customer engagement firm BEN (NASDAQ:BNAI) has rolled out new partnerships with call center and healthcare clients. And, while it faces a fair bit of competition in the chatbot realm, several high-profile institutions have demonstrated that creating one that provides useful services...
Blue Ocean (NASDAQ:BOCN) provided significantly more texture today in the presentation for its $275 million combination with Asian digital media group TNL Mediagene, which it expects to hit profitability in the second half of the year despite a slight shakeup in financing for the transaction. The first big update in the first investor deck is...
At the SPAC of Dawn A brand new market may have just opened up for space de-SPACs as NASA administrator Bill Nelson announced a shift in the agency’s $11 billion program for a mission to return samples from Mars. Rather than rely on the agency’s internal technologies that would be predicted to get a sample...
Overall deal flow between SPACs and biotech firms has slowed over the last year, but some pending FDA changes could breathe new life into particular business models within the space. In particular, the FDA has asked Congress as part of its 2025 Legislative Proposals to eliminate the interchangeability designation for biosimilar medications, claiming the existing...