GS Acquisition Holdings II (NYSE:GSAH) announced this morning that about 5 million shares that had previously been tendered for redemption in connection with the close of its merger with Mirion Technologies would now stay in the transaction.
This keeps about $50 million more in the deal and improves what was already a good completion result to about 20% of shares redeemed overall. As many SPACs have done recently, GS II pre-announced that just 26.1% of its shares had been redeemed the day before completion vote giving shareholders an additional day to reverse their redemption decisions.
This is generally done to remove any uncertainty about the health of the deal post-redemptions, and in this case it appears to have had a significant effect.
GS II shareholders approved the transaction yesterday and it expects to close the business combination later today, after which the combined company’s shares and warrants are expected to trade on the NYSE 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.
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...