8-K Filing

The SPAC has a merger agreement with OSR. a global healthcare holding company. Peter Kuk Hyoun Hwang is CEO of both companies.

The target is a provider of credit digital transformation solutions based in China. Announced earlier this week, the deal is expected to close in late 2024 at an implied initial enterprise value of approximately $393 million. If approved, Oabay would trade on the Nasdaq.

The SPAC also corrected what it called a typographical error, stating that the per-share redemption price would be $11.04, not $14.06 as originally disclosed.

Under the terms of the business combination agreement, a newly-formed entity will undertake a share exchange with the gold mining company and the holders of the outstanding Blue Gold shares will receive equity in the new company valued at $114.5 million.

Stardust Power is a lithium battery producer. Deal terms call for the SPAC to issue 63,038,964 shares and 12,276,172 warrants to the target’s shareholders. The stock consideration is up from the previously announced 61,488,964 shares.

Redwood shareholders in April voted in favor of merging with ANEW. Terms at deal announcement originally called for ANEW to receive up to $60 million in stock, although that was before redemptions of 53% in a December extension vote and another 1.7 million shares redeemed ahead of the merger vote.

TortoiseEcofin III has a merger agreement with One Energy. The deal with the vertically integrated industrial power solutions company was announced last August at an implied pre-money enterprise value of $300 million.

This news follows the disclosure that  97.26% of the SPAC's outstanding shares have been redeemed ahead of the merger vote on EV maker Thunder Power. 

TTA in October 2022 announced a deal with Malaysia-based Super Apps Holdings Sdn Bhd at a pro forma enterprise value for the combined company of approximately $1.1 billion. A proxy was filed last August.

Capitalworks in March mutually agreed to terminate a merger agreement with reinsurance and digital insurance provider Lexasure Financial Group. The deal was announced last year at a pre-money equity value of $250 million.