Angel Pond Holdings Corporation (POND) Closes MariaDB Deal
by Marlena Haddad on 2022-12-19 at 9:53am

Angel Pond Holdings (NYSE:POND) announced this morning that it has closed its combination with MariaDB and its shares and warrants will begin trading on the NYSE today under the symbols “MRDB” and “MRDB WS”.

The press release notes that the SPAC’s shareholders approved the deal at a vote in November 22, but the company did not immediately announce the results of the meeting. In a subsequent 8-K on December 11, Angel Pond revealed that 99% of its shares were redeemed, removing about $262.9 million from its trust.

This left just 258,925 public shares shares remaining with the company, but deal was also supplemented with a $104 million PIPE made up of Series D preferred shares and an $18.2 million PIPE at $9.50 per share. This more than cleared the transaction’s $100 minimum cash condition.

Angel Pond inked its $672 million combination with MariaDB on February 1. Redwood City, California-based MariaDB provides an software platform for enterprise business and cloud management with about 1 billion downloads to date.

It expects to generate $47 million in revenue in 2022E for an operating loss of -$43.2 million.


ADVISORS

  • Cleary Gottlieb Steen & Hamilton LLP, Hannes Snellman Attorneys Ltd, Arthur Cox and Maples Group are serving as legal advisors to Angel Pond.
  • Perkins Coie LLP, Fondia, Matheson and Conyers are serving as legal advisors to MariaDB.
  • J.P. Morgan Securities LLC and Angel Pond Capital LLC served as placement agents to Maria DB and Angel Pond in connection with the Series D Financing and PIPE offerings.
  • J.P. Morgan Securities LLC is acting as capital markets advisors to Angel Pond.
Recent Posts
by Kristi Marvin on 2024-06-22 at 11:30am

Terms Tracker for the Week Ending June 21, 2024 Programming Note: An abbreviated version of the Terms Tracker will be posted next week.  In light of the end of the quarter, we will be busy putting together our Half-Year report which should be posted the first week of July.  Welcome to our weekly column where...

by Nicholas Alan Clayton on 2024-06-21 at 11:46am

Future Vision II (NASDAQ:FVNNU) has filed for a $50 million IPO to hunt for a TMT target in Asia including intelligent chips, 5G and other emerging technologies there. Given the heightened competition and trade protectionism around these technologies lately, it is interesting that Future Vision II hasn’t ruled out combining with a Chinese target. In...

by Nicholas Alan Clayton on 2024-06-21 at 8:12am

At the SPAC of Dawn Every public company wants retail investor engagement, but once brought along, those investors require a bit of educating as well. Nuclear fission firm Oklo (NYSE:OKLO) is discovering that this week as it made a point to put out a press release explaining that its most recent S-1 filing was a...

by Nicholas Alan Clayton on 2024-06-20 at 3:41pm

Voyager (NASDAQ:VASHU) has filed for a SPAC IPO featuring many of the now increasingly familiar terms pushed by underwriter Cantor Fitzgerald over the past month, but does include a novel dollar figure for its raise at $261 million, before any over-allotments. Outside of this, Voyager’s trust is funded to 100.00% with $10.00 per unit to...

by Kristi Marvin on 2024-06-20 at 12:29pm

Eleven new SPACs have filed since the beginning of June, and the number is 12 if we count the May 31st filing of Graf Global Corp.  Seven of those 12 are being underwritten by Cantor, which has always been a very active SPAC underwriter. But you know who else used to be very active? Credit...

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved