SEP Acquisition Corp. (NASDAQ:SEPA) announced this afternoon that its shareholders approved its combination with wound care firm SANUWAVE (OTC:SNWV) during a special meeting on January 29.
At the meeting, holders of 5,146,501 shares of SEPA’s common stock were present, representing 89.46% of the company’s common stock outstanding. The deal was overwhelmingly approved as holders of 5,137,623 shares voted in favor of the deal, while holders of 3,778 shares pushed back against it.
In connection with the vote, stockholders holding 495,067 shares of Class A common stock opted to redeem their shares of Class A common stock. Including prior votes, SEPA stockholders have redeemed an aggregate of 95.1% of the SPAC’s trust thus far, leaving it with approximately $8.5 million and 809,192 shares remaining.
The parties did not provide a timeline for the closing of the deal, but the combined company is expected to trade on the Nasdaq under the symbol “SNWV” once completed.
SEP announced its $127 million deal with SANUWAVE in August 2023. Eden Prairie, Minnesota-based SANUWAVE has commercialized its FDA-approved UltraMist medical device, which accelerates healing and reduces inflammation by delivering a pain-free mist of medicines to the effected area.
At the SPAC of Dawn This week has been partially defined by market reactions to the core PPI inflation numbers that came out yesterday, but today’s session will receive fresh inputs on US retail, manufacturing and industrial production figures. SPACs also have to contend with public market reactions to new issuance that has not been...
Viking Acquisition Corp. I (NASDAQ:VACIU) has filed for a $200 million SPAC with strong terms led by international Deutsche Bank alumni. We are only halfway through the month of August, but teams have already filed S-1s for 12 new SPACs, matching July’s total. Cohen & Company has largely been the engine for this surge as...
Bleichroeder I (NASDAQ:BACQ) has entered into a definitive agreement to combine with defense contractor Merlin Labs at a pro forma enterprise value of $1 billion. Merlin is developing the technology for autonomously piloting aircraft in defense and civil applications. The combined company is expected to trade on the Nasdaq once the deal is completed in...
At the SPAC of Dawn It is only halfway through the month of August, but teams have already filed S-1s for 12 new SPACs, matching the total for all of July. Underwriter Cohen & Company has been responsible for half of this flow and four of its flock were rolled out just this week. This...
Tailwind 2.0 (NASDAQ:TDWDU) has filed for a $150 million SPAC to turn over a new leaf in its ongoing SPAC series. If the naming convention around Tailwind 2.0 seems strange, it is not without purpose. This is neither the second nor the third Tailwind SPAC. It is technically the fourth. The first Tailwind SPAC had...