Corner Growth Acquisition Corp. (NASDAQ:COOLU) has issued an amendment to its previously filed proxy statement, correcting a typographical error related to the per-share redemption price of its public shares. The company, a blank check entity also known as a special purpose acquisition company (SPAC), is preparing for an extraordinary general meeting of shareholders on June 24, 2024, to discuss an extension.
The corrected proxy statement now indicates that the estimated per-share redemption price from the cash held in the Trust Account is $11.04, not the previously stated $14.06. This adjustment affects the potential return for shareholders electing to redeem their shares in connection with the proposed extension.
The meeting, scheduled for 1:00 pm Eastern Time, will allow shareholders to vote on the proposed timeline extension for the company to complete a business combination. The definitive proxy statement and additional materials can be accessed through the SEC's website.
The updated information is specifically applicable as of today, June 14, 2024, and does not retroactively alter any previous financial data or projections. Shareholders of record are encouraged to review the revised proxy statement to fully understand the implications of the corrected redemption price and the proposed extension.
Corner Growth Acquisition Corp. is incorporated in the Cayman Islands and has listed its units, Class A ordinary shares, and redeemable warrants on The Nasdaq Stock Market under the symbols COOLU, COOL, and COOLW, respectively. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant, with each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50.
This correction comes as part of the company's ongoing preparations for the upcoming shareholder meeting and reflects its commitment to providing accurate financial information to its investors. The news is based on a press release statement from the company filed with the SEC.
In other recent news, Noventiq Holdings PLC has been making significant strides in its global expansion efforts. The company recently appointed Huong (Helen) Tran as the new Chief Financial Officer for its Asia Pacific operations, where she will manage financial activities across several key markets. This move aligns with Noventiq's strategic goals, including a Nasdaq listing and a three-dimensional growth strategy focusing on geographic and portfolio expansion, as well as sales channel development.
In another development, Noventiq announced a strategic joint venture with Al-Suwaiket Group to strengthen its presence in the Middle East, particularly in Saudi Arabia. This collaboration aims to enhance the digital capabilities of Saudi companies in alignment with the Saudi Vision 2030 initiative and is expected to establish a substantial footprint in the Saudi market.
These are recent developments that reflect Noventiq's growth trajectory, supported by a business combination agreement with Corner Growth Acquisition Corp. The agreement is anticipated to result in Noventiq being listed on Nasdaq under the symbol NVIQ, providing the company with new capital sources and accelerating M&A opportunities.
The company's expansion initiatives also include the opening of a new office in Dammam in 2024, adding to its existing office in Riyadh.
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