Semper Paratus (Nasdaq: LGST) announced this morning that its shareholders approved its combination with Tevogen Bio during a special meeting yesterday January 31.
In connection with the vote, shareholders holding 1,432,457 shares out of a possible 1,502,180 Semper Paratus ordinary shares opted to redeem their shares. While the final amount of the funds to be removed from the trust is still being calculated, the current preliminary calculations are that approximately $15.9 million, or $11.07 per share, will be removed from the trust.
Including prior votes, LGST shareholders have redeemed an aggregate of 99.8% of the SPAC’s trust thus far, leaving it with roughly $800,000 and 69,723 shares remaining.
The parties did not provide a timeline for the closing of the deal, but it is expected to be completed as soon as practicable following the satisfaction of the remaining closing conditions, including approval for listing on The Nasdaq.
Following the closing of the deal, the common stock of the combined company is expected to begin trading on Nasdaq under the symbol “TVGN”.
Semper Paratus inked its $1.2 billion deal with Tevogen Bio in June 2023. Warren, New Jersey-based Tevogen is developing a treatment to boost the immune systems of COVID patients undergoing cancer treatments or that have other comorbidities.
All other proposals presented on the ballot were also approved at the meeting .
Deals and Amendments Arogo Capital (OTC:AOGO) has received notice that its merger target Ayurcann Holdings (CSE:AYUR) has terminated their business combination citing a breach on behalf of the SPAC. Ayurcann expects to be paid a $250,000 breakup free from Arogo. News and Rumors PR: Smart TV firm Innovid (NYSE:CTV), which combined with ION 2 in...
At the SPAC of Dawn Wednesday night saw two more SPACs price their IPOs, which means November’s eight listings will now eclipse October’s haul of seven and the five IPOs of September. Amid this accelerating momentum, a new name could soon be seen on a number of new SPACs. EF Hutton rebranded to D. Boral...
CO2 Energy Transition Corp. (NASDAQ:NOEMU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NOEMU”, Thursday, November 21, 2024. The new SPAC intends to combine with a target company that is focused on reducing emissions through the generation of renewable energy or...
Dynamix Corporation (NASDAQ:DYNXU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DYNXU”, Thursday, November 21, 2024. The new SPAC intends to focus its search on companies that are within the energy transition, oil and gas, and power sectors. Dynamix Corporation is...
At the SPAC of Dawn One more shoe has dropped as the President-Elect Donald Trump works to staff his incoming administration and set priorities as he has appointed Cantor Fitzgerald CEO Howard Lutnick to lead the Department of Commerce. This ends speculation about where the head of 2024’s leading SPAC underwriter would land. The question...