Home Plate Acquisition announced that it convened and then adjourned, without conducting any business, its stockholders meeting. The meeting will now be held at 10:30 a.m. Eastern Time March 30, when shareholders are expected to vote on a deadline extension that would give the SPAC until Oct. 4 to complete a deal.
Home Plate last week announced a merger agreement with Heidmar, a commercial and pool management business servicing the crude oil and refined petroleum product tanker market. The deal has an implied equity value of $261.4 million.
Net proceeds from the transaction are expected to include the targeted minimum cash raise of $55 million, in a combination of an expected PIPE and trust cash, as well as existing cash on Heidmar’s balance sheet.
The SPAC raised $200 million in an October 2021 IPO with plans at that time to acquire and manage a business in the FinTech and Embedded Finance sectors, including payments, digital assets, consumer finance, and other related areas. Read more.
