FTAC Emerald Acquisition Corp. (NASDAQ: EMLD) announced this morning that it plans to push its extension vote scheduled for this afternoon to 4:30 pm ET tomorrow, September 19.
As the SPAC continues to engage with shareholders, they are to consider its proposal to extend the SPAC’s transaction deadline to January 19, 2024 without the sponsor making an additional contribution to the trust.
FTAC Emerald goes into the vote with its full compliment of IPO shares adding up to a $259.4 million trust with a redemption rate of $10.43. Earlier this month, it signed a non-redemption agreement with third parties securing 1,000,000 shares from being redeemed and it may be at work on additional measures.
It has not yet released any additional information on the LOI target that FTAC Emerald first highlighted in June. But, its team is chaired by serial SPAC sponsor Betsy Cohen, who has made a career of bringing fintech firms to market, alongside CEO Bracebridge H. Young, who has specialized in sustainability investments.
By announcing the LOI, it gained an automatic extension to September 20, but this extension vote will be its first chance its investors have to redeem shares. It closed Friday trading at its $10.43 redemption rate.
Dune Acquisition Corporation (NASDAQ:DUNE) announced in an 8-K today that it has once again modified its agreement with sustainable energy firm Global Hydrogen. This amendment marks a reduction in Global Hydrogen’s equity value from $48 million to $43 million, alongside an increase in the available shares of common stock that is for the Global Gas Corporation...
At the SPAC of Dawn After mixed signals for the consumer sector earlier this month, initial Black Friday sales numbers have shown that Americans were not too stuffed for a shopping spree this year. Shoppers bagged between $9.8 billion and $10 billion in goods online, depending on one’s preferred source, either of which would be...
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...