FTAC Emerald Acquisition Corp. (NASDAQ: EMLD) announced this morning that it plans to push its extension vote scheduled for this afternoon to 4:30 pm ET tomorrow, September 19.
As the SPAC continues to engage with shareholders, they are to consider its proposal to extend the SPAC’s transaction deadline to January 19, 2024 without the sponsor making an additional contribution to the trust.
FTAC Emerald goes into the vote with its full compliment of IPO shares adding up to a $259.4 million trust with a redemption rate of $10.43. Earlier this month, it signed a non-redemption agreement with third parties securing 1,000,000 shares from being redeemed and it may be at work on additional measures.
It has not yet released any additional information on the LOI target that FTAC Emerald first highlighted in June. But, its team is chaired by serial SPAC sponsor Betsy Cohen, who has made a career of bringing fintech firms to market, alongside CEO Bracebridge H. Young, who has specialized in sustainability investments.
By announcing the LOI, it gained an automatic extension to September 20, but this extension vote will be its first chance its investors have to redeem shares. It closed Friday trading at its $10.43 redemption rate.
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...