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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (3838)	8/14/2023 1:53:36 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

A small float. There may have been a short squeeze. When Back Spade went public, the IPO raised $169 million. When the shareholders extended the life of the company in July, $147 million of the shares were redeemed. Another $15 million went out the door when the merger was approved. The newly merged entity got only $13.6 million of the original proceeds. *NOTE 10 — SUBSEQUENT EVENTS* On July 13, 2023, the Company held an extraordinary general meeting at which its shareholders approved the extension of the date by which the Company has to consummate a business combination from July 20, 2023 to July 20, 2024 by adopting the second amended and restated memorandum and articles of association. In connection with the extension of business combination period, $147of funds.01 million was released from the Trust Account to satisfy the redemptions. Following such redemptions, the amount remaining in the Trust Account is approximately $28.56 million. On August 10, 2023, the Company held an extraordinary general meeting at which its shareholders approved the Business Combination and related proposals. In connection with the approval of Business Combination, $15.0 million will be released from the Trust Account to satisfy the redemptions. Following such redemptions, the amount of funds remaining in the Trust Account will be approximately $13.6 million. Inline XBRL Viewer (sec.gov)