Merger Termination

OceanTech shareholders in February approved the merger with Regentis Biomaterials, although final redemptions reached 99.9% and there was a $6 million minimum cash condition to close the deal.

This news comes a day after the SPAC disclosed it had been delisted from the Nasdaq.

The financing package for the spatial computing company was to include the SPAC’s $11.9 million cash in trust, a $3.1 million PIPE and a $3 million convertible note, plus $150 million in Immersed rollover funds.

Malaysia-based Liberty entered into the business combination with Caspi Oil Gas in December 2022 at a proforma enterprise value of $427.7 million at that time.

Relativity late last month said it was notified by the Nasdaq that its securities would be delisted based on the company’s unpaid past due balance of $81,000 in fees owed to the exchange.

The deal had an estimated pro-forma enterprise value of $3 billion at announcement in January.

Amcomri invests in small and medium sized British specialist engineering and quality manufacturing businesses.

The SPAC had postponed a shareholder vote on the Cognos Theapetics deal four times since January to solicit proxies.

As of last June, H2B2 was expecting to post a net loss of $16.6 million in fiscal 2023 on revenues of $15.8 million, according to estimates contained in a proxy filed by RMG III.

Boa Gold focuses on mining operations in Brazil.