SPACInsider Logo
First Light Acquisition Group, Inc. (FLAG) Adjourns Extension Vote
by Marlena Haddad on 2022-09-09 at 1:42pm

First Light  (NYSE:FLAG) has adjourned its special meeting held today to September 13, at 10:00 a.m. EST, without finalizing its shareholder vote.

Today’s special meeting was being held to consider the proposal of amending and extending FLAG’s transaction deadline by which it must complete its initial business combination. The SPAC, however, did not give further details as to why the meeting was adjourned.

FLAG’s current deadline is September 14, but, the SPAC, which is a 12 month IPO, currently has two allowed auto extensions of 3-months each by contributing $0.10 each time.  The adjourned extension vote is seeking to change that to four 3-month extensions instead with a contribution of 1% of the amount held in the trust account at each 3-month extension.

FLAG announced the pricing of its $200 million IPO in September 2021 and intends to partner with a business that has proprietary technologies and market-disruptive applications with multiple use-cases, including commercial and/or defense markets.

The new meeting will now be held on Tuesday, September 13, 2022 at 10:00 a.m. EST.

 

Recent Posts
by Marlena Haddad on 2023-01-30 at 1:22pm

Armada I (NASDAQ:AACI) announced this afternoon that it has once again postponed its extension vote. The SPAC initially planned to hold its special meeting on January 20, but postponed it to January 30, and will now be pushing it back until tomorrow, January 31. Armada has also extended the deadline for holders to submit their public...

by Nicholas Alan Clayton on 2023-01-30 at 12:07am

Prime Impact I (NYSE:PIAI) has entered into a definitive agreement to combine with auto insurance firm Cheche at an enterprise value of $841 million, or about 2.3x its 2022 revenue. Beijing-based Cheche provides a digital insurance platform for car owners in China with about 34 million vehicles covered. The combined company is expected to trade...

by Marlena Haddad on 2023-01-30 at 11:42am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Hambro Perks eyes merger with Biotech Istesso, Rocket Lab launches first vehicle from U.S. soil, and Alliance Entertainment signs licensing agreement with The Walt Disney Company Hambro Perks SPAC Eyes Merger With Biotech...

by Marlena Haddad on 2023-01-30 at 10:15am

Pono Capital Corp. (NASDAQ:PONO) disclosed in an 8-K filing this morning that its shareholders approved its combination with air mobility company AERWINS at a special meeting held on Friday, January 27. Holders of 12,412,861 common shares were present at the meeting and the deal was approved with 11,218,712 shares in favor of the transaction. The filing did not...

by Nicholas Alan Clayton on 2023-01-30 at 9:07am

European Biotech (NASDAQ:EBAC) announced in an 8-K this morning that it has increased its PIPE by $7.8 million and added $7 million to the convertible loans attached to the combination with biotech firm Oculis. The new PIPE cash comes at $10 per share and joins $63.3 million in existing PIPE financing for a total of...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved