Catcha Investment said its registration statement on a proposed merger with Crown LNG Holdings AS has been decalred effective by the SEC. Accordingly, the SPAC cxalled a March 6 meeting for shareholders to vote on the deal.
The target is a provider of LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations.
Before the merger vote, Catcha shareholders on Feb. 16 will consider an extension proposal that would give the SPAC until May 17 to close the deal.
Catcha and Crown announced the deal back in August at a pre-money valuation of approximately $600 million, and a pro forma enterprise value of the combined company at $685 million.
If approved, upon completion Crown’s shares are expected to trade on the NYSE under the ticker CGBS.
The transaction is expected to provide $50 million of capital, with net proceeds going to fund the company’s Kakinada and Grangemouth projects to final investment decision. Read more.
