Catcha Investment and merger partner Crown LNG in a regulatory filing disclosed an amendment to their business combination agreement — extending the termination date from June 17 to June 28, aty which time either side can walk away.
The parties also agreed that the deal may be terminated by Crown if they do not receive notice of approval for listing from NASDAQ, NYSE American, or another national securities exchange acceptable to Crown by June 28.
Catcha earlier this week said it had secured a PIPE funding agreement in up to seven tranches at $2.95 million each in convertible notes, as well as an original issue discount of up to $442,500 for each. Warrants to purchase additional stock will also be included in the funding package.
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. The SPAC’s shareholder vote on the merger has been postponed numerous times.
The target is a provider of LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations. Read more.
