S-4 Filing

The deal was announced in March 2023, originally at a $215 million valuation. The SPAC in the proxy said it holds $20.9 million in trust as of Dec. 31.

The $380 million deal was announced last July and includes a $30 million PIPE.

Although the SPAC has sustained heavy redemptions, there is no minimum cash consideration to close the SBC deal. 

At deal announcement two years ago, the merged company was valued at a pro forma enterprise value of approximately $1.5 billion.

The SPAC back in July said it signed a non-binding letter-of-intent for a business combination with Glowforge, a manufacturer of 3D laser printers. Glowforge is not mentioned in the proxy filing.

The transaction had been expected to close in the first half of 2024. 

Redemptions following two favorable extension votes last year left approximately $9.66 million in the SPAC's trust.

Edify's merger agreement with the global logistics and freight forwarding company was announced in December 2022.

StoneBridge shareholders last month approved a merger with DigiAsia Bios Pte. Ltd. The Indonesia-based acquisition is an embeddable “Fintech-as-a-Service” company.

The proposed studio acquisition ranks among the largest SPAC deals announced in 2023.