TG Venture Acquisition in a regulatory filing said it signed non-redemptions agreements with Bulldog Investors and Phillip Goldstein, who’ve agreed to hold an unspecified number of shares through the Nov. 1 extension vote. In return, the investors would be paid about $369,000.
The SPAC’s stockholders are being asked to vote on a deadline extension for up to six months beyond the current Nov. 5 termination date. If approved, this would be the SPAC’s second extension since announcing a $205 million merger agreement with workspace provider Flexi Group in December 2022.
The estimated redemption price per share is now expected to be approximately $11.03, up from the $10.97 originally reported in the SPAC’s proxy. The closing price of TGVC’s common stock on Oct. 24 was $10.85.
TG Venture raised $100 million in a November 2021 IPO. Read more.
