RE: Robert Price23 Mar 2026 18:26
I think it's more probable than not that new/additional funding will be obtained, but based on this note, they were expecting to use whatever was left in the trust. That's all I've been saying for two days now.
"...the parties to the Business Combination Agreement expect for (a) SPAC to retain a considerable amount of the funds in the Trust Account, and (b) net tangible assets of PubCo, at Closing and after giving effect to the redemptions, to be at least $5,000,001. These expectations are the result of recent, large purchases of SPAC Ordinary Shares made in the public market at prices well above the redemption per share price attainable in connection with such redemptions. Notwithstanding the above, since (i) the Business Combination Agreement does not include a minimum cash condition in order to consummate the Business Combination, and (ii) the parties to the Business Combination Agreement currently do not have any financing arrangements (including, but not limited to, a private placement in public equity (PIPE)), in the event that (a) our expectations of retaining a considerable amount of the Trust Account do not materialize, and (b) SPAC public shareholders redeem 1.1 million or more SPAC Ordinary Shares (approximately 13% or more in redemptions), the Business Combination would not be consummated as the value of the net tangible assets of PubCo would be below the $5,000,001 required amount..."