Two Deal Votes Coming up Tomorrow

Nocturne Acquisition and Concord Acquisition III each have shareholder meetings scheduled for Feb. 27 to vote on merger agreements.

Nocturne has a deal with Cognos Therapeutics, which specializes in drug delivery devices for brain and spinal cancers, neurodegenerative disorders (such as Alzheimer's and Parkinson's disease), epilepsy, and stroke.

Cognos CEO Frank Adell in a letter to shareholders last month noted that the SPAC still holds about $20 million in trust, while the parties are working to secure additional funding via a PIPE. He projected the deal would close by the end of February or early March, pending shareholder approval.

Nocturne raised $100 million in a March 2021 IPO with plans at that time to focus on targets bringing to market disruptive technologies in the blockchain/ and artificial intelligence technology sectors.

Meanwhile, Concord Acquisition III shareholders are scheduled to vote tomorrow on the proposed merger with GCT Semiconductor, a designer and supplier of advanced LTE, IoT and 5G semiconductors.

Announced in November, terms call for the issuance of approximately 54,860,842 shares to GCT stakeholders, who would control about 68.7% of the company. The deal also has the support of a $29.9 million PIPE.

Concord III raised $351.9 million in a November 2021 IPO with plans to acquire and manage a business in the financial services and financial technology sectors, however, redemptions ahead of a favorable extension vote last May removed about 88% of the trust. At the last extension vote, in November, redemptions erased another $1.1 million, leaving approximately $42.2 million in the trust. 

Source: Two Deal Votes Coming up Tomorrow