East Stone Acquisition called a Nov. 7 meeting for shareholders to vote on the proposed combination with NWTN, a smart electric vehicle company.
The SPAC has $400 million in PIPE commitments to go with its $33.5 million in trust.
NWTN, through its primary subsidiary, ICONIQ, aims to integrate avant-garde design, life-style personalization, IoT connectivity, and autonomous driving technology.
At announcement in April the deal was valued at $2.5 billion.
This will be East Stone’s third attempt to reach the altar after terminating a deal with JHD Holdings in April and calling off a deal with Ufin Holdings before that. Read more.
