BlueRiver Acquisition Corp. (BLUA) Postpones Extension Vote
by Marlena Haddad on 2023-07-19 at 5:48pm

BlueRiver Acquisition Corp. (NYSE:BLUA) announced in an 8-K this afternoon that it has postponed its extension vote from July 21 to July 28 at 10 a.m. ET.

As a result, the SPAC will also extend the redemption deadline to July 26.

As of now, BlueRiver faces a completion deadline of August 2, 2023, but is hoping to gain shareholder approval at the upcoming meeting to extend this until February 2, 2025.

Although the company is technically still searching for a target to combine with, it announced in January that it entered into a non-binding letter of intent with a business in the medical technology sector. No further details were disclosed about this potential transaction and a definitive agreement still has not been signed.

BlueRiver initially raised $287.5 million from its January 2021 IPO and set out to combine with a media, telecom or entertainment business with compelling revenue and a defensible market position. But, the company saw 93% of its trust removed from redemptions during a January meeting, leaving it with $20.46 million post-vote. BlueRiver is led by Co-Chairmen and Co-CEOs John Gregg and Randall Mays, who also serves as CFO. Eric Medina serves as managing director, head of finance and corporate development.

Recent Posts
by Nicholas Alan Clayton on 2024-02-26 at 1:45pm

News and Rumors PR: Medtech firm Agiliti (NYSE:AGTI) has agreed to be acquired by an affiliate of private equity firm Thomas H. Lee Partners (THL) at $10 per share and an enterprise value of $2.5 billion. This represents a 43% premium over the company’s 90-day VWAP and returns it to 100% ownership by THL five...

by Nicholas Alan Clayton on 2024-02-26 at 7:42am

At the SPAC of Dawn The last week of February is to host a moderate amount of SPAC votes and also the potential for some market-moving data releases. Shareholders for five SPACs are to consider extensions this week and seven more SPACs have scheduled completion votes. But, among the more interesting events on the agenda...

by Kristi Marvin on 2024-02-24 at 11:45am

Terms Tracker for the Week Ending February 23, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As expected, new issuance filings were quiet this week.  But, deal announcements were surprisingly active.  Four more SPACs announced combinations in a shortened holiday week...

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....

logo

Copyright © 2023 SPACInsider, Inc. All Rights Reserved