Rose Hill Acquisition and Prize Extend Their Merger Deadline by 3 Months as Negotiations Continue on $50M PIPE

Rose Hill Acquisition and Prize, an exporter of superfruits based in Chile, moved the deadline for their proposed merger to Oct. 18, according to an 8-K filing.

Rose Hill added that it, Prize and certain investors are working on the key economic terms of subscription agreements for a PIPE of at least $50 million to support the merger.

Either the SPAC or the target can terminate the deal if the PIPE transaction has not been completed by the new date.

At deal announcement last October, the merger was expected to result in $65 million in total cash proceeds to Prize. Read more.

Total
0
Shares
Related Posts
Read More

Falcon Acquisition Files for $250M IPO

The new SPAC said it will target tech-driven businesses that it calls “the dis-intermediators, which we define as those forward-thinking businesses leading the disruption across the legacy incumbents and which we believe are poised for growth in markets with attractive demographics and fundamentals."