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 .
At the SPAC of Dawn Another day, another wave of trade war news as US President Donald Trump has announced fresh 25% tariffs on all imported automobiles on April 3 in addition to the new customs duties expected to come into force on April 2. These moves cut across a wide swath of SPAC target...
Armada Acquisition Corp. II has filed for a $200 million SPAC to combine with a fintech, SaaS or AI company with nearly the same team top-to-bottom that just completed its first SPAC combination in that space. The filing is Cohen & Company’s seventh of the year as left-lead underwriter and Northland Capital Markets is stepping in...
HCM II (NASDAQ:HOND) has entered into a definitive agreement to combine with nuclear reactor developer Terrestrial Energy at a pro forma equity value of $1.3 billion. Charlotte, North Carolina-based Terrestrial is developing unique molten salt nuclear reactors designed to generate enhanced heat outputs for industrial client processes. The combined company is expected to trade on...
At the SPAC of Dawn Rain or shine, legal challenges for SPACs do not appear to be going anywhere. Cornerstone Research found this week that the number of securities class action lawsuit settlements increased +6% in 2024 and suits targeted at SPACs or de-SPACs represented 19% of this total. On the plus side, the median...
At the SPAC of Dawn A new conservative stock with meme potential is further taking shape as the market finds its footing this week. Firearms marketplace GrabAGun nominated its Board that will take their seats after the company completes its combination with Colombier II (NYSE:CLBR) anticipated later this summer. This Board includes Donald Trump Jr.,...