Sustainable Development Acquisition I to Liquidate Friday

At deal announcement a year ago, the transaction was expected to provide gross proceeds of up to approximately $285 million to e.GO. That was before redemptions ahead of six deadline extensions began to erode the cash in trust.

As announced in November, if the deal is approved the combined company would have an estimated fully-diluted post-transaction enterprise value of $573 million.

OceanTech I in February called off a proposed merger with fintech Majic Wheels by mutual agreement and last October terminated a deal with Captura Biopharma. In March, the original management team sold the sponsor holdings to a new team, which three weeks ago announced a definitive merger agreement with Israel-based Regentis Biomaterials at a $95 million valuation.