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The transaction has no minimum cash condition and prior to signing the business combination agreement, Perception Capital entered into a forward purchase agreement with Meteora Capital for the full amount of cash in trust.

World View is a Tucson, AZ-based developer of surveillance balloons equipped with remote sensing via the stratosphere, delivering data not available with traditional satellite imaging or fixed-wing aircraft monitoring.

The structure of the transaction seeks to limit TKB stockholder redemptions and maximize cash delivered to Wejo by providing TKB investors with an approximately 10% premium to the estimated cash in TKB’s trust in Wejo Holdings shares.

If approved, Psyence Biomed expects to receive a minimum of $20 million cash held in trust. Newcourt raised $220 million in an October 2021 IPO.

This is not Calidi's first attempt to reach the altar with a SPAC. Edoc Acquisition called off its plan of merger with Calidi last August, but left the door open to further discussions. Edoc in May 2022 had lowered the aggregate value of the consideration to Calidi from $400 million to $380 million. 

Assuming no redemptions by Stonebridge public shareholders, upon deal close the combined operating entity could have access to as much as $200 million in net cash (after transaction expenses) from the SPACX's trust.

The combined company is expected to receive gross proceeds of $154 million at closing. The transaction is expected to close in the first half of the year.

The purchase price is $100 million in cash (of which $15 million may be in a promissory note), plus $20 million in stock, according to the filing.

There is a minimum $20 million cash condition to close the deal.

Terms call for LE shareholders to receive $150 million in stock. Ace plans to support the deal with a $20 million PIPE.