Breeze Holdings Acquisition announced the filing of a registration statement outlining its proposed merger with TV Ammo, a technology manufacturing and licensing company focused on the global ammunition and weapons industry.
If the deal wins approval, the combined company would be renamed True Velocity and list on the Nasdaq.
Cash proceeds raised will consist of Breeze Holdings’ remaining cash in trust (before any further redemptions and payment of any transaction expenses) and $100 million in anticipated new capital, expected to be split between debt and equity.
Breeze shareholders in September approved a deadline extension up to June 26, but redemptions pulled the trust down to $12.6 million. The SPAC originally raised $100 million in a November 2020 IPO with plans to target natural gas and crude oil companies.
IB Capital is acting as M&A advisor to TV Ammo. Lathrop GPM and Shearman & Sterling are legal advisors to TV Ammo. I-Bankers Securities is financial advisor to Breeze Holdings. ArentFox Schiff and Woolery & Co are legal advisors to Breeze. Marshall & Stevens Transaction Advisory Services is acting as the fairness opinion provider to the Breeze board. Read more.
