Tailwind Acquistion filed a definitive proxy making its case for a four-month deadline extension to close a deal with NUBURU®, a manufacturer of blue lasers for welding applications and 3D printing.
The vote is scheduled for Sept. 7 and, if approved, would give the SPAC until Jan. 9 to complete the acquisiton.
The SPAC’s sponsor has agreed to provide an incremental contribution to its trust account, contributing up to $500,000 (25 cents per share not redeemed). For each of the two subsequent one-month extensions that may be required to close the business combination beyond January, the sponsor will contribute up to $50,000 (2.5 cents a share) for non-redeemed shares.
If there are no redemptions, the transaction is expected to result in gross proceeds of up to $334 million. The deal values the combined company at $350 million. Read more.
