Zalatoris Acquisition in a regulatory filing said it amended an agreement with its sponsor, J. Streicher Holdings, to increase the SPAC’s borrowing limit to $5 million from the initial $2 million. Zalatoris II Acquisition disclosed a similar amendment with the sponsor, raising its borrowing limit to $5 million from the original $1.5 million.
Any unpaid amount at the closing of either SPAC’s business combination may be converted into warrants.
Zalatoris has a deal to merge with Anteco Systems (dba AnyTech365) at a $220 million enterprise value.
Founded in 2014 and based in Marbella, Spain, the target develops AI powered IT security systems.
If approved, the deal is expected to be completed in the first quarter of 2024. Terms call for stockholders of the target to receive approximately $138.37 million in shares at closing, and approximately $7.28 million will be placed in escrow.
Zalatoris II has a deal in hand with Eco Modular at a $600 million enterprise value. Read more.
