Latest SPAC Liquidations: MDH, RXR, and Oyster Enterprises
MDH Acquisition Corp. (MDH) to Liquidate on December 29
MDH Acquisition Corp. (NYSE: MDH) filed a definitive proxy statement relating to a special meeting of stockholders to redeem all of its outstanding shares of Class A common stock by changing the company’s liquidation date from February 4, 2023 to December 29, 2022.
READRXR Acquisition Corp. (RXRA) to Liquidate on December 20
RXR Acquisition Corp. (NASDAQ: RXRA) announced today that the company intends to dissolve and liquidate. It will redeem all of the outstanding shares of Class A common stock at an anticipated per-share redemption price of approximately $10.00.
As of the close of business on December 20, 2022, the shares will be deemed cancelled and will represent only the right to receive the redemption amount.
READOyster Enterprises (OSTR) to Liquidate on December 19
Stockholders of Oyster Enterprises Acquisition Corp. (Nasdaq: OSTR) approved an amendment to allow the company to redeem all of its issued and outstanding shares of Class A common stock by changing the termination date to December 19, 2022.
The company expects to complete the redemption on or around December 22, 2022 at a per-share redemption price of approximately $10.07.
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Mobiv Acquisition Corp. (NASDAQ:MOBV) announced this afternoon that it has closed its combination with EV motorcycle-maker SRIVARU. Shareholders originally approved the deal at a special meeting held back on September 28, but at that time, the parties expected the transaction to take just a week to close. Redemptions whittled Mobiv’s IPO share pool of 10,005,000 down...
Achari Ventures I (NASDAQ:AVHI) has entered into a definitive agreement to combine with medtech firm Vaso Corporation at an equity value of $176 million, or 19.5x its 2022 adjusted EBITDA. Wuxi, China-based Vaso provides IT services and sales support to medical device manufacturers. The combined company is expected to trade on the Nasdaq under the...
EF Hutton Acquisition Corp. I (NASDAQ:EFHT) announced this morning that its shareholders have approved its business combination with E.C.D. Auto Design. At the meeting, there were 5,089,203 shares of common stock, representing approximately 76.82% of the issued and outstanding shares of common stock, present. In connection with the meeting, the company’s stockholders holding 3,470,945 shares,...
Legato Merger Corp. III (NYSE:LEGT) filed for a $175 million IPO yesterday afternoon, becoming the fourth SPAC to file this week. While the other three SPACs that filed their S-1s earlier this week intend to pursue targets in the financial services and biotech industries, Legato III, similar to the earlier Legato SPACs, will focus on...
At the SPAC of Dawn This week ends with an unusually busy earnings calendar as 172 US-listed companies report quarterly figures today. Among them is Exela Technologies (NASDSAQ:XELA), which completed a combination with Quinpario 2 in 2017. The billing software company has gone on to do another SPAC deal on November 29, this time spinning...