The SPAC in its latest filing said two lawsuits were filed this week in US District Court for the Southern District of New York, following the filing of a proxy on the proposed merger with Desktop Metal. Traine said the company and its target believe the suits are without merit, and filed supplemental disclosures.
“As is common in transactions of this type, lawsuits have been filed by purported stockholders challenging the completeness and accuracy of the disclosures in the Form S-4 and seeking to compel additional disclosures prior to a shareholders meeting and/or closing of the transaction,” Trine said in the filing.
If shareholders approve the merger at a scheduled Dec. 8 meeting, the combined companies would have a valuation of $2.5 billion. Read more.
