Perception Capital II in a regulatory filing said approximately 98.5% or 2,049,498 of its Class A shares have been tendered for redemption ahead of tomorrow’s vote on whether to combine with Spectaire, a solutions provider for customers to monitor, track and meet emissions targets via a patented micro-mass-spectrometer device.
The leaves the SPAC with about $374,000 going into the vote.
The numbers are based upon the amount held in the trust account as of Oct. 11, which was $23,287,757.03 and a redemption price of $11.18 per share.
The SPAC yesterday disclosed a $650,000 subscription agreement with Polar Multi-Strategy Master Fund.
As announced in January, the deal had a pro forma enterprise valuation of approximately $203 million.
Still, the transaction has no minimum cash condition to close. Prior to signing the merger agreement Perception II entered into a forward purchase agreement with Meteora Capital for the full amount of the remaining cash in trust. Read more.
