Abri SPAC I, Inc. (ASPA) Shareholders Approve DLQ Deal
by Marlena Haddad on 2023-10-25 at 7:45am

Abri SPAC I (NASDAQ:ASPA) announced that its shareholders approved its combination with adtech firm DLQ at a special meeting held on October 23.

The deal was overwhelmingly approved with all holders, representing 2,326,538 shares, voting in favor of the business combination with the exception of the holder of 1 share that abstained to vote.

In connection with the meeting, 639,963 shares were tendered for redemption. As a result, approximately $6,834,804 million, approximately $10.68 per share, will be removed from Abri SPAC I’s trust account. Following redemptions, the SPAC will have 41,555 public shares of common stock outstanding.

The parties have not yet provided a timeline for when the deal will close. But, following the closing, the combined company will operate under the name Collective Audience and will be led by Mr. Brent Suen.

Abri SPAC I inked the $114 million deal with DLQ in September 2022. DLQ is a wholly-owned subsidiary of New York-based digital marketing firm Logiq (OTCQX:LGIQ) focused on digital ad placements and ecommerce optimization.

Recent Posts
by Nicholas Alan Clayton on 2024-02-20 at 10:29am

Acri Capital (NASDAQ:ACAC) has entered into a definitive agreement to combine with electronics manufacturer Foxx for $50 million in share compensation. Texas-based Foxx provides communication terminals and IoT services to the telecom sector as well as consumer electronics for retail buyers. The combined company is expected to trade on the Nasdaq once the deal is...

by Nicholas Alan Clayton on 2024-02-20 at 7:39am

At the SPAC of Dawn SPAC filings have had a relatively slow start out of the gate from the long weekend, but this week should end with some fireworks with six completion votes yet to come and a lunar landing to boot. Three of these votes have been postponed at least once already, so the...

by Kristi Marvin on 2024-02-17 at 11:45am

Terms Tracker for the Week Ending February 16, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Filings were on the quieter side ahead of the three-day weekend, with the following week also usually heavily booked with spring break vacations. As a...

by Nicholas Alan Clayton on 2024-02-16 at 1:36pm

It may be a photo finish for top SPAC underwriter in 2024 if SPACInsider‘s readers are correct. In this week’s Let’s Settle This poll, respondents were split with equal numbers predicting Cantor or EF Hutton to price the most SPAC IPOs by year’s end. A roughly equal number of respondents predicted six other underwriters could...

by Nicholas Alan Clayton on 2024-02-16 at 7:49am

At the SPAC of Dawn A great number of SPACs entered 2024 in a sense of drift with many attempting to carry combinations to close that had been pending for a year or more and uncertainty loomed with SEC and Fed decisions still in the air. But, the SPAC market has undeniably begun waking from...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved