TG Venture Acquisition Corp. (NASDAQ: TGVC) announced that it has postponed its special meeting, originally scheduled to be held on April 27, until May 4.
In connection with the postponement of the meeting, the SPAC has further extended the redemption deadline until 5:00 p.m. ET on May 2.
TG Venture currently faces a completion deadline of May 5, but is hoping to gain shareholder approval at the upcoming meeting to extend its timeline by an additional six months until November 5.
If the proposal is approved, then TG Venture’s sponsor will deposit into the trust the lesser of $100,000 and $0.04 per share multiplied by the number of shares outstanding on the applicable date, on each of May 5, and on the 5th day of each subsequent calendar month until the extended date.
TG Venture announced its $205 million business combination with Asia-Pacific coworking space operator The Flexi Group in December 2022. The Flexi Group is one of the region’s largest flexible workspace operators with 45 locations in 12 cities and 9 countries including Australia, Singapore, Malaysia, Hong Kong, Thailand, Philippines, Taiwan, Vietnam and Japan.
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Heard on the Street: VinFast’s SPAC Backers Are Backing Out Even by the standards of electric-vehicle startups, the $40 billion market value of Vietnamese electric-vehicle startup VinFast is wild, following its combination with Black Spade last month....
Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25. The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to...
Indie Semiconductor (NASDAQ:INDI), which merged with Thunder Bridge II in June 2021, announced this morning that it has launched an exchange offer to convert each outstanding warrant to 0.285 Class A shares in the company. At Indie’s last closing price of $6.22, this is $1.77 of value each, although the stock has been rising since...
Atlantic Coastal II (NASDAQ:ACAB) has entered into a definitive agreement to combine with drug developer Abpro at a valuation of $725 million. Woburn, Massachusetts-based Abpro is advancing a series of drug candidates to potentially treat COVID, cancer and diabetic blindness. The combined company is expected to trade on the Nasdaq once the deal is completed...
Graf Acquisition Corp. IV (NYSE:GFOR) announced that it adjourned Wednesday’s completion vote for its combination with NKGen Biotech without conducting any business and will reopen proceedings at 4:00 p.m., Eastern time, on September 25, 2023 Once again, the adjournment is being done to provide additional time to continue its efforts to obtain additional financing. This new...