The SPAC in a filing said up to 25 million shares would be sold in a private placement upon closing of its business combination with PureCycle. The SPAC indicated it will schedule a shareholder vote in early 2021. If approved, the combined company would have a market value of about $1.1 billion. Read more.
Related Posts
SPAC Sets Vote Date on $2.6B EVgo Deal
Net cash proceeds are estimated to be approximately $575 million, comprised of $400 million from a PIPE and approximately $230 million of cash held in trust by CRIS.
Nubia Brand International Files Investor Presentation on Honeycomb Battery Deal
Announced in February, terms call for Nubia to issue 70 million shares of its common stock to Honeycomb investors, plus contingent earnout payments of up to 22.5 million shares if certain stock price targets are met.
TG Venture Acquisition Runs Afoul of Nasdaq Minimum Investor Threshold
The SPAC faces a November deadline for completing its proposed merger with Flexi Group, a workspace provider. The deal had a pro forma enterprise value of $205 million at announcement last December.
American Acquisition Opportunity Wants to Push Deadline Back to September
The SPAC last June annoucned a deal with Royalty Management, which "focuses on current revenue streams through undervalued resources that fit the modern infrastructure market while making investments in assets that fit tomorrow’s electrification, mineral resources and infrastructure needs."