Twin Ridge Capital Acquisition in an 8;K said this morning's shareholder meeting was convened and adjourned without conducting any business. The SPAC said it would inform shareholders of the new meeting date to vote on a proposed merger with Carbon Revolution. No announcement had been made as of late this afternoon.
No reason was given for the delay. This is the second time in a week the vote was postponed.
Carbon Revolution is a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels.
At announcement last November, the deal had an estimated post-transaction equity valuation of approximately $461 million, including about $214 million of cash held in TRCA's trust account, assuming no redemptions.
Twin Ridge Capital raised $200 million in a March 2021 IPO. Read more.