Perception Capital II filed an invesgtor presentation promoting its proposed acquisition of Spectaire, a solutions provider for customers to monitor, track and meet emissions targets via a patented micro-mass-spectrometer device.
As announced in January, the deal values Spectaire at a pro forma enterprise valuation of approximately $203 million.
Since its IPO almost two years ago, Perception II has lost 89.3% of the 23 million shares to redemptions.
The transaction has no minimum cash condition and prior to signing the business combination agreement Perception II entered into a forward purchase agreement with Meteora Capital for the full amount of the remaining cash in trust. That forward purchase agreement for an OTC equity prepaid forward transaction calls for the purchase of up to approximately 2.5 million Class A shares from additional holders who might elect to redeem. Read more.
