DiamondHead Holdings Corp. (NASDAQ:DHHC) announced in an 8-K this afternoon that it has rescheduled its special meeting to complete its transaction with homebuilding company Great Southern Homes, Inc.
The company originally planned to hold the completion vote on March 14, but will now be pushing it back until March 23 at 10:00 a.m. Eastern Time to allow more time for the preparation of closing logistics. The redemption deadline will also be extended from March 10 to March 21.
The SPAC initially brought $345 million into the deal through its current trust, but saw 87.13% redeemed during an extension vote in January, leaving it with $44.94 million. The proposed merger also features a minimum cash condition of $125 million, but DHHC did not supplement this with a PIPE. If the deal is approved, the combined company will trade on the Nasdaq under the new ticker symbol “UHG”.
DiamondHead announced the $572 million combination with Great Southern Homes in September 2022. Columbia, South Carolina-based Great Southern Homes (“GSH”) is currently one of the largest homebuilders in the Southeast and focuses on the entry level home buyer segments.
At the SPAC of Dawn As the market awaits the first jobs report of the new administration, more signs of shifts in the marketplace are emerging as various businesses either cozy up to or distance themselves from the White House. In particular, the closeness of Elon Musk to President Trump has given the opportunity for...
Columbus Acquisition Corp. (NASDAQ:COLAU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “COLAU”, Thursday, January 23, 2025. The new SPAC intends to conduct a broad search for a target company without a focus on any particular industry or geography. Columbus’ sponsor...
Silver Pegasus Acquisition Corp. (NASDAQ:SPEGU) has filed for a $150 million SPAC with Roth Capital Partners underwriting the offering. The new SPAC is laser-focused on finding a semiconductor or “systems solutions” target, which is an intriguing space given that the sector has been in the crosshairs of trade restrictions by nearly all countries involved. That...
At the SPAC of Dawn Space de-SPACs have been among the big winners from the market’s initial parsing of the Trump administration 2.0’s policy priorities, with Rocket Lab (NASDAQ:RKLB) gaining +30%, Redwire (NYSE:RDW) +51% and Intuitive Machines (NASDAQ:LUNR) +23.9%. Redwire got the double boost of Trump’s bullish words on space and also the announcement that...
Iron Horse Acquisitions Corp. II has filed for a $250 million SPAC with D. Boral Capital underwriting under its new name. D. Boral emerged in November from a messy dispute at the top of investment bank EF Hutton that was concluded with Joseph Rallo taking the EF Hutton trademark and departing the firm while David...