Aetherium Acquisition Corp. (GMFI) Signs LOI with Capital A
by Marlena Haddad on 2023-11-02 at 8:25am

Aetherium Acquisition Corp. (NASDAQ:GMFI) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with some divisions of Capital A Berhad, the investment holding company of AirAsia.

Valued at $1 billion, the proposed business combination would result in new subsidiary Capital A International becoming a standalone publicly traded company. Capital A International intends to be an investment company that leverages the “AirAsia” brand and capitalizes on capabilities in aviation, travel and hospitality and digital technologies.

By owning 100% equity in AirAsia Brand and Leasing, Capital A International’s primary revenue sources will be from brand royalties and aircraft leasing. Furthermore, the company will actively engage in strategic acquisitions, business incubation, and partnerships to offer entrepreneurial platforms.

Under the terms of the LOI, Capital A intends to divest all issued and outstanding share capital of Capital A International.

Further details will be disclosed upon the signing of a definitive agreement in the weeks to come.

Aetherium currently has approximately $31 million in its trust account after seeing 73.99% redeemed during previous meetings. It initially raised $116.7 million from its IPO in December 2021 and set out to combine with businesses in the education, training, and education technology industries, specifically in Asia (excluding China). The SPAC is led by Chairman and Co-CEO Jonathan Chan, CFO Alex Lee and Co-CEO David Kopp.

Since there is no guarantee that this LOI will make it to the definitive agreement stage, Aetherium will stay in SPACInsider’s searching column for now.

Recent Posts
by Nicholas Alan Clayton on 2024-02-23 at 2:26pm

Pyrophyte (NYSE:PHYT) faced a major regulatory setback for its combination with mining firm Sio Silica this week, but a recent analogous SPAC deal could provide some encouragement for a path forward. Sio Silica is working to develop a high-grade silica mine in the Vivian Sands outside Winnipeg, Canada and it inked the $708 million combination...

by Nicholas Alan Clayton on 2024-02-23 at 1:37pm

News and Rumors JD Supra: Securities class action lawsuits against SPACs and de-SPACs increased only slightly in 2023 with 27 after 2022 saw 24 and 2021 – 33. Lawsuits concerning the de-SPACing process itself dropped precipitously, however, representing just 21% of cases as compared to 69% in the previous two years and 80% in 2020....

by Nicholas Alan Clayton on 2024-02-23 at 7:39am

At the SPAC of Dawn SPACs have officially landed on the Moon. Despite a few last-minute delays and minor malfunctions, Intuitive Machines’ (NASDAQ:LUNR) Odysseus lander made the first soft landing on the Moon since 1972 and the first ever by a commercial enterprise. Three other private missions to the moon have failed in recent years...

by Nicholas Alan Clayton on 2024-02-22 at 2:50pm

Moringa (NASDAQ:MACA) has entered into a definitive agreement to combine with clinical-stage biotech firm Silexion at a pre-transaction equity value of $62.5 million. Modi’in-Maccabim-Reut, Israel-based Silexion is developing a range of potential cancer treatments with its most advanced efforts targeting pancreatic cancer. The combined company is expected to trade on the Nasdaq once the deal...

by Nicholas Alan Clayton on 2024-02-22 at 1:32pm

News and Rumors CityWire: A subsidiary of Allianz (DE:ALV) and Constellation Wealth Capital have signed on to invest $400 million in asset management firm AlTi Global (NASDAQ:ALTI), purchasing a combination of ordinary shares and Series A convertible preferred stock. AlTi is up 21% in midday trading on the news. It combined with Cartesian Growth in...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved