M&A
confidence high
sentiment neutral
materiality 0.90
Investcorp Europe Acquisition Corp I enters Third Amendment to Business Combination Agreement with OpSec Holdings
Invest Acquisition Corp
- Third Amendment dated May 3, 2024 modifies Business Combination Agreement among SPAC, Pubco, OpSec, OpSec Shareholders.
- Divestiture proceeds escrow account holds purchase price less expenses; $7.8M may be released to SPAC for expenses.
- Orca Midco may receive $3M escrow advance if merger not closed by May 28, 2024 and $73.8M if not by Aug 26, 2024.
- SPAC may terminate BCA through Aug 10, 2024 if Divestiture done and transaction not in shareholders' best interest.
- Termination fee of $30M payable to SPAC if termination due to outside date or governmental order, subject to conditions.