GS Acquisition Holdings II (NYSE:GSAH) announced this morning that about 5 million shares that had previously been tendered for redemption in connection with the close of its merger with Mirion Technologies would now stay in the transaction.
This keeps about $50 million more in the deal and improves what was already a good completion result to about 20% of shares redeemed overall. As many SPACs have done recently, GS II pre-announced that just 26.1% of its shares had been redeemed the day before completion vote giving shareholders an additional day to reverse their redemption decisions.
This is generally done to remove any uncertainty about the health of the deal post-redemptions, and in this case it appears to have had a significant effect.
GS II shareholders approved the transaction yesterday and it expects to close the business combination later today, after which the combined company’s shares and warrants are expected to trade on the NYSE under the symbols “MIR” and “MIRW”, respectively.
The parties initially announced the $2.6 billion deal on June 17. San Ramon, California-based Mirion provides radiation detection equipment and services to sectors ranging from nuclear power generation to defense and nuclear medicine.
ADVISORS
- Goldman Sachs & Co. LLC acted as lead placement agent and exclusive financial advisor to GSAH.
- Lazard Ltd. and HSBC acted as financial advisors to Charterhouse and Mirion.
- Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc. are providing committed debt financing in support of the transaction.
- Weil, Gotshal & Manges LLP acted as legal advisor to GSAH.
- Davis Polk & Wardwell LLP acted as legal advisor to Mirion
- Freshfields Bruckhaus Deringer LLP acted as legal advisor to Charterhouse.
- Sullivan & Cromwell LLP acted as legal advisor to Goldman Sachs & Co. LLC as lead placement agent.
- Milbank LLP acted as legal advisor to Goldman Sachs Lending Partners LLC and Citigroup Global Markets Inc.
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...