Update: Industrea, Constellation Alpha, Chardan Healthcare

news update

Update: Industrea, Constellation Alpha, Chardan Healthcare

There have been a number of filings this afternoon, so a summary has been provided below:

Industrea Acquisition Corp.

Industrea (INDU), announced this afternoon that shareholders have approved their business combination with Concrete Pumping Holdings.  The final voting results revealed 97.33% of votes cast were in favor of the Business Combination, representing 71.96% of all outstanding shares as of the October 17, 2018 record date. However, as of yet, Industrea has not released any of the details regarding number of shares redeemed or at what price, however, they did indicate they will be releasing that information in an additional 8-K.  So, while 97% voted yes, that doesn’t tell us much since you can still vote “yes” and also redeem for the pro rata amount in trust.  Regardless, Congratulations to Industrea and Concrete Pumping Holdings.  We’ll update as further information becomes available.

Constellation Alpha Capital Corp.

Constellation Alpha Capital Corp. (CNAC), in a very brief 8-K, indicated their agreement with Medall Healthcare Private Limited, has been terminated.  Constellation Alpha has until Dec. 19th to complete their business combination and they indicated in their filing that “The Company intends to continue to pursue a business combination with a target company“, so a forthcoming proxy to extend their deadline date will most likely be filed shortly.

Chardan Healthcare Acquisition Corp.

Chardan Healthcare (CHACU), filed an S-1/A this afternoon for their SPAC, indicating (so far) that they’re sticking with their terms.  As a side note, Schultze also filed their S-1/A (Nov. 28th), as did CF Finance (Dec. 3rd). However, Chardan’s filing (without any changes) is the most surprising. But hey, if they can sell it…good on them.

If you would like to review the terms of all five of the forthcoming December SPAC IPOs, you can find that here.