Class Over, a provider of educational technology solutions and online live educational courses, and Battery Future Acquisition today announced a definitive business combination agreement at an enterprise value of approximately $135 million. If approved, the new company would trade on the New York Stock Exchange.
Class Over, founded in 2020 and headquartered in New York, has emerged as a player in the educational technology sector. Specializing in interactive online live courses for K-12 students both domestically and internationally, Class Over offers a diverse curriculum and technology solutions tailored to various learning levels and age groups. Class Over focuses on fostering essential skills such as creativity and problem-solving through its innovative courses, which range from interest-driven classes to competitive test preparation.
Battery Future has called a May 17 meeting for shareholders to vote on a proposal to extend the SPAC’s deadline to June 2025.
As of the April 30 record date, the SPAC had 5,170,599 Class A shares and 8,625,000 Class B shares outstanding.
Last week the SPAC said it had secured non-redemption agreements ahead of the extension vote. Participating investors would receive 100,000 Class B Shares for every 400,000 non-redeemed shares for the first nine months of the extension period and then 10,000 additional founder shares for each subsequent month needed during the extension period, up to 130,000 founder shares.
Battery Future since its $300 million IPO in 2021 has been focused on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain. Read more.
