VTAC will also issue up to 24.4 million new shares in the company at the issue price should certain financial targets be satisfied. The respective earnout vesting dates are April 30, 2024, and Aug 30, 2024.
The first Singapore Exchange (SGX:S68
) (SGX) special purpose acquisition company (spac) is set to complete its business combination, potentially bringing a live-streaming company to the exchange’s roster alongside more traditional sectors like banking, property and utilities within the billion-dollar market cap bracket.
On Oct 2, Temasek-backed spac Vertex Technology Acquisition Corp (VTAC) announced its plan to acquire Japan-based 17LIVE for $925.1 million. The acquisition will be funded by issuing up to 160.6 million new VTAC shares at $5 each.
