Jaguar Global Growth Corporation I (JGGC) Completes GLAAM Deal

Jaguar Global (NASDAQ:JGGC) announced this afternoon that it has completed its combination with glass-maker GLAAM after shareholders approved the deal at a special meeting on September 27.

In connection to the meeting, the SPAC saw redemptions remove 99.6% of its trust, leaving it with approximately $1.04 million post-vote.

Following the closing, the combined company will be named “Captivision Inc.” Captivision’s ordinary shares and public warrants are expected to begin trading on November 16 on the Nasdaq under the ticker symbols “CAPT” and “CAPTW,” respectively.

Jaguar Global initially announced its $309 million combination with GLAAM in March. The deal did not include a minimum cash closing condition nor a PIPE. Seoul-based GLAAM manufactures glass that doubles as a display for building exteriors to be used as space for marketing or other media.

Back in September, GLAAM announced it had been hired to supply 16,000 sq ft. of glass for two new projects in contracts collectively worth more than $11 million. At deal announcement, it projected 2023 would bring its second consecutive year of positive EBITDA, generating $22 million this year.