The Growth for Good (NASDAQ:GFGD) announced this morning that it has added a $5 million PIPE to its combination with EV-maker ZeroNox with the participation of several strategic investors.
The PIPE is set at $10 per share, but The Growth for Good has not yet filed other terms. Investors include trailer and tractor-makers Premier and Kubota as well as Formula-E racing team NIO 333. ZeroNox CEO Vonn Christenson noted in the press release that these investments will come with ear-marked joint projects.
The Growth for Good also clarified that pulling together this PIPE was the primary reason the SPAC postponed its completion vote for the deal from August 18 to 10 am ET August 23. The Growth for Good could still push things out further as it has until September 14 to complete a deal under its current deadline.
The two sides initially struck their $306 million deal on March 8. Porterville, California-based ZeroNox manufactures electric drivetrains for a wide range of off-highway vehicles like golf carts, forklifts and all-terrain vehicles.
It generated $9.7 million in revenue in 2022 and has about $180 million-worth of revenue under contract for the coming years, including $26.3 million at the memorandum-of-understanding stage, according to a recent presentation.
Terms Tracker for the Week Ending December 20, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. * We will be skipping next week’s Terms Tracker post while we work on putting together our “2024 Year End Review”. You can find 2023’s...
Four Leaf Acquisition Corporation (NASDAQ:FORL) has entered into a definitive agreement to combine with Chinese technology firm Xiaoyu Dida for undisclosed terms. The Guangzhou, China-based firm produces software and hardware for smart car washing systems. The parties have set December 31, 2025 as the initial outside date and the combined company is expected to trade...
At the SPAC of Dawn SPACs are back on the board with a new deal announcement, which is the first in a little over two weeks. This brings the fourth quarter count on fresh deals to a still-meager nine after 27 were announced in the third quarter. By contrast, this quarter has still seen more...
Range Capital Acquisition Corp. (NASDAQ: RANGU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “RANGU”, Friday, December 20, 2024. The new SPAC intends to take a generalist approach in searching for a business combination, but will seek opportunities in capital constrained...
SPAC Deja Vu There’s been a lot of talk this year in the SPAC market about how it’s finally reverting back to a healthier version of deal flow and the comparison is always, “….like 2019”. In fact, in 2019, Trump was in office and there were 59 SPAC IPOs priced. As of this morning, Trump...