Mount Rainier Acquisition Corp. (Nasdaq:RNER) announced this afternoon that it has adjourned its special meeting to vote on an extension in connection with its business combination with computing developer HUB Cyber Security Israel.
The meeting, which was scheduled to occur today, has been pushed back until tomorrow February 28, 2023, at 3:00 p.m.
The SPAC’s shareholders have already approved the $1.2 billion deal with HUB Cyber Security in a meeting held earlier this year, but have yet to close the deal. The parties originally expected to close the deal in late January, subject to the satisfaction of certain customary closing conditions. They are now asking for a one month extension from March 1 until March 31. HUB Security has already applied for the listing of its ordinary shares and warrants on The Nasdaq Capital Market under the proposed symbols “HUBC” and “HUBCW,” respectively.
RNER’s public stockholders holding 2,660,436 shares of common stock elected to redeem their public shares in connection with the approval of the business combination. These redemptions were in addition to the 14,535,798 shares that were tendered for redemption in connection with the special meeting held on December 21, leaving the SPAC with just 53,766 shares.
Mount Rainier announced its $1.2 billion deal with HUB Cyber Security in March 2022. The Tel Aviv-based company, founded by veterans of Israeli intelligence units, develops and markets computing solutions and services that aim to disrupt cybersecurity for enterprises and governments worldwide.
Trailblazer Merger I (NASDAQ:TBMC) has entered into a definitive agreement to combine with data intelligence firm Cyabra at an enterprise value of $70 million. Tel Aviv-based Cyabra provides tools to corporations and governments to identify fake accounts and combat social media disinformation. The combined company is expected to trade on the Nasdaq once the deal...
Chain Bridge I (NASDAQ:CBRG) has entered into a definitive agreement to combine with cannabinoid pharmaceuticals firm Phytanix Bio at a pre-deal valuation of $58 million. Santa Barbara, California-based Phytanix is working to develop bladder and seizure treatments using cannabis-based substances. The combined company is expected to trade on the Nasdaq under the symbol “PHYX” once...
At the SPAC of Dawn A new ripple is expected to come to the market today in the form of Ethereum spot ETFs after the SEC gave final approval to several yesterday. BlackRock, Fidelity, Bitwise, Franklin, and VanEck all received approval for their new funds and all but BlackRock plan to waive fees until they...
Maquia Capital (NASDAQ:MAQC) has entered into a definitive agreement to combine with AI infrastructure firm Velocium at a valuation of $445 million. Miami-based Velocium is developing data center processors designed to be particularly efficient for use by AI applications and Web 3.0. The combined company is expected to trade on the Nasdaq under the symbol...
At the SPAC of Dawn The third week of July brings just three votes and only ARYA IV‘s (NASDAQ:ARYD) is to complete a transaction, but plenty more is turning in SPACland. For one, this week’s anticipated IPO for M3-Brigade V (NASDAQ:MBAV) now looks notably different with 1/2 warrants in its units and its trust overfunded...