S-4 Filing

The SPAC raised $250 million in a January 2022 IPO to search for a target business operating in the software, internet, media, fintech, healthcare IT or consumer industry sectors.

PHP Ventures has lost about 71% of its trust to redemptions on an extension vote in December. The current extension runs out in mid-August.

The target is a Nova Scotia-based natural gas exploration consortium. 

Terms with Digital Virgo include approval for listing on the Nasdaq, European electronic money institution approvals, a minimum of $20 million in cash at closing, and the execution of definitive agreements for a $100 million committed capital-on-demand facility.

Announced in May, the deal has an enterprise value of $238 million and a $40 million minimum cash condition to close.

Abri also said it is no longer required to maintain net tangible assets of $5 million in order to complete the business combination. 

At deal announcement a year ago, the combined entity is expected to encompass over 1,900 advisors, $25 billion AUM and over $285 billion in affiliated AUM. 

The SPAC is searching for a target business engaged in metaverse technologies, tourism and e-commerce related industries in the Asia-Pacific, or APAC, region after raising $57.5 million in a November 2022 IPO.

The Seamless banking platform operates in more than 150 countries.

The SPAC raised $275 million in a November 2021 IPO. Rigel Resource is focused on the global metals value chain.