Software Acquisition Group III (NASDAQ:SWAG) announced that its shareholders approved its combination with software firm Nogin at a special meeting yesterday.
The SPAC tipped in an 8-K yesterday that about 82.7% of its shares were redeemed in connection with its vote. It did not update that number in the subsequent press release, but if it stands, that counts as a solid vote in the current market. This was perhaps aided by a standby purchase agreement for up to 6 million shares that the parties announced last week.
Software III laid out its vote tallies in a filing this morning and all measures passed by wide margins. The parties expect the deal to close on August 24, and on August 25, Nogin’s shares and warrants are expected to begin trading on the Nasdaq under the symbols “NOGN” and “NOGNW”, respectively.
The parties initially announced the $646 million combination on February 14. Tustin, California-based Nogin delivers provides software tools to ecommerce brands to help manage their marketing, shipping and payments.
ADVISORS
- Stifel Financial Corp. is serving as exclusive strategic and financial advisor to Nogin.
- Latham & Watkins LLP is acting as Nogin’s legal counsel.
- Gateway Group is acting as investor relations advisor to Nogin.
- Jaffe Communications is acting as its public relations advisor.
- Jefferies LLC is serving as exclusive financial advisor and capital markets advisor to SWAG III.
- Kirkland & Ellis is acting as SWAG III’s legal counsel.
AI Transportation Acquisition Corp. (NASDAQ:AITR) filed its S-1 last Wednesday afternoon for a $50 million IPO, marking the first SPAC to file for an IPO in March. While the new company may pursue a target in any industry, it intends to focus its search in the transportation field, including but not limited to logistics, new energy...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Virgin Orbit plans for insolvency amid rescue talks with investors, WeWork reaches deal to cut debt, and Pear Therapeutics explores “strategic alternatives” Virgin Orbit plans for insolvency amid rescue talks with investors Sky News...
Home Plate (NASDAQ:HPLT) has entered into a definitive agreement to combine with shipping company Heidmar at an anticipated enterprise value of $214.4 million, or 7.2x its 2023E EBITDA. Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships. The combined company is expected to trade...
two (NYSE:PIAI) announced in an 8-K this morning that it has pushed back its special meeting one week from March 24 to 10 am ET, March 31. Shareholders at the meeting will consider a proposal to extend its transaction deadline from April 1 to January 1, 2024. The SPAC’s sponsor has not yet offered to...
Terms Tracker for the Week Ending March 17, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. Despite this week’s headlines about bank failures, EF Hutton managed to file both a new S-1 registration statement and price an IPO. They should have...