Quadro Calls Meeting to Vote on 6-Month Extension

Quadro Acquisition One called a May 20 meeting for shareholders to vote on an extnsion proposals that would give the SPAC until Nov. 22 to complete a deal or dissolve.

The SPAC had 1,570,680 shares outstanding after redemptions on an extension vote in November. 

Quadro in January announced a merger agreement with Global Growth, a private equity firm founded by Greg Lindberg. The deal calls for the SPAC to acquire seven companies in Global Growth’s sports collectibles, software, cloud-based IT and healthcare services segments with an estimated pro-forma enterprise value of $3 billion.

The Global Growth Companies have been operating through various independent trusts and the merger with Quadro SPAC is expected to significantly enhance accountability to the shareholders by terminating certain of these trusts and by placing the Global Growth Companies under one chief executive officer and chief financial officer, Quadro said at deal announcement.

Among other conditions to the closing of the business combination, the proposed acquisition of the Global Growth Companies by Quadro SPAC and the related debt and equity financing transactions are subject to court and regulatory approval, including court approval for the repayment of indebtedness to certain affiliated insurance companies. Read more.

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Hainan Sirius Acquisition Files for $60M IPO

This is the latest SPAC helmed by CEO and Chairman Zhifan Zhou, who served in the same capacity with Hainan Manaslu Acquisition from November 2021 to August 2023. Hainan Manaslu completed a merger last month with Able View, a brand management partner of international beauty and personal care brands in China.