SEP Acquisition Corp. (SEPA) Shareholders Approve SANUWAVE Deal
by Marlena Haddad on 2024-01-30 at 4:46pm

SEP Acquisition Corp. (NASDAQ:SEPA) announced this afternoon that its shareholders approved its combination with wound care firm SANUWAVE (OTC:SNWV) during a special meeting on January 29.

At the meeting, holders of 5,146,501 shares of SEPA’s common stock were present, representing 89.46% of the company’s common stock outstanding. The deal was overwhelmingly approved as holders of 5,137,623 shares voted in favor of the deal, while holders of 3,778 shares pushed back against it.

In connection with the vote, stockholders holding 495,067 shares of Class A common stock opted to redeem their shares of Class A common stock. Including prior votes, SEPA stockholders have redeemed an aggregate of 95.1% of the SPAC’s trust thus far, leaving it with approximately $8.5 million and 809,192 shares remaining.

The parties did not provide a timeline for the closing of the deal, but the combined company is expected to trade on the Nasdaq under the symbol “SNWV” once completed.

SEP announced its $127 million deal with SANUWAVE in August 2023. Eden Prairie, Minnesota-based SANUWAVE has commercialized its FDA-approved UltraMist medical device, which accelerates healing and reduces inflammation by delivering a pain-free mist of medicines to the effected area.

Recent Posts
by Kristi Marvin on 2024-07-20 at 11:44am

Terms Tracker for the Week Ending July 19, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. After last week’s poor IPO performance from the anchor deals, the remaining SPACs on file with an anchor structure are starting to show difficulties in...

by Nicholas Alan Clayton on 2024-07-19 at 12:46pm

Vine Hill Capital Investment Corp. (NASDAQ:ESPAU) has filed for a $200 million IPO, which marks underwriter Stifel Nicolaus’ return to the SPAC market after a hiatus of over two years. Stifel last served as a book-runner for a SPAC when filing for Kensington Capital IV in January 2022 and hasn’t acted as left-lead since Spree...

by Nicholas Alan Clayton on 2024-07-19 at 8:13am

At the SPAC of Dawn SPACs may be back on the upswing, but it seems increasingly unlikely they will return to the same stomping grounds as in 2020-2022. Teams took 14 Fintech firms public during those years, 17 more in broader Financial Services and five more in Crypto. But, those sectors may no longer hold...

by Nicholas Alan Clayton on 2024-07-18 at 1:18pm

Expectation Acquisition Corporation (NASDAQ:ESPAU) has filed to bring another Oppenheimer alum back to the market with a $60 million SPAC IPO. That officer is Expectation CFO Chi Zhuang, who started out as an equity research associate at the firm’s New York office in 2014. This overlapped with a period when Lewis Silberman, co-CEO of yesterday’s...

by Kristi Marvin on 2024-07-18 at 10:19am

In the past few months we’ve seen a number of SPACs IPO using what we like to call “anchor investors”, a term we use as a bit of shorthand.  What that means is, the bankers round out the IPO with qualified institutional buyers, sometimes called “non-managing sponsor investors”, that indicate for up to 9.9% of...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved