Catcha Investment in a regulatory filing said today’s rechedule shareholder meeting to vote on a merger with Crown LNG will be postponed again — to May 7. The redemption deadline has been extended to May 3. No reason was given.
The target is a provider of LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations.
This is the third rescheduled meeting to vote on the transaction, which was originally set for March 6.
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.
