Global Technology Acquisition I in a regulatory filing said its sponsor intends to sell 3.5 million Class B shares and 7.35 million private placement warrants to HCG Opportunity II, a fund managed by Hennessy Capital Group. The current sponsor will retain up to 3.15 million private placement warrants.
After the closing, HCG II plans to extend the company’s deadline from April 25 to July 25 with the deposit of 10 cents a share into trust.
As a result of the handover, HCG II will bring on new management, virtually all of whom are affiliated with Hennessy.
The SPAC raised $200 million in an October 2021 IPO to focus on technology companies that operate in the marketplace, financial technology and Software-as-a-Service verticals within Europe, Latin America and the United States. Read more.
