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Americas Technology Acquisition Corp. (NYSE: ATA, ATA.WS, ATA.U) announced its decision to dissolve and liquidate due to its failure to complete an initial business combination by the deadline. The company will redeem its Public Shares at approximately $10.59 per share, with cancellation effective December 17, 2022. The trust account will liquidate its securities for disbursement to shareholders, who need to deliver their Public Shares to receive the funds. The sponsor has waived its redemption rights on pre-IPO shares, though warrants will expire worthless.
Americas Technology Acquisition Corp. (NYSE: ATA) has announced the termination of its merger agreement with Rally Communitas Corp. The decision comes after mutual approval from both companies' Boards of Directors. Americas Technology Acquisition Corp. is focused on mergers within technology, media, and telecommunications sectors, while Rally specializes in mass mobility solutions, specifically bus rideshare services. This termination may impact ATA's strategic direction and its pursuit of future business combinations.
Rally Communitas Corp. and Americas Technology Acquisition Corp. (ATA) have filed a registration statement with the SEC for a proposed business combination. The merger agreement, entered on June 1, 2022, is valued at $208 million. Approval from shareholders and additional regulatory requirements is needed before completion, expected in Q4 2022. Following the merger, the new entity, Pubco, will trade under the symbols 'RLLY' and 'RLLYW'. This combination aims to enhance Rally's operational capabilities in the Mobility as a Service sector.
Rally Communitas Corp. and Americas Technology Acquisition Corp. (ATA) announced a joint investor call on June 7, 2022, detailing their proposed business combination. The presentation will be available on both companies' websites and filed with the SEC as a Current Report on Form 8-K. The communication contains forward-looking statements regarding future financial performance and risks that could affect the transaction’s success. Notably, the transaction's completion hinges on shareholder approval and various closing conditions.
Transaction Summary: Rally Communitas Corp and Americas Technology Acquisition Corp. (ATA) announced a definitive business combination agreement with an implied pro forma enterprise value of approximately $208 million. This merger, set to close in Q4 2022, will create Rally Mobility Corp, enhancing customer acquisition and brand expansion. Rally operates a technology platform for mass mobility, facilitating 600 million annual passenger trips in the U.S. while tapping into a $135 billion global market. The combined entity is expected to provide innovative solutions for middle-mile travelers.
Americas Technology Acquisition Corp. (NYSE: ATA.U) has announced a deposit of $1,150,000 into its trust account, equating to $0.10 per share. This payment allows the company to extend the deadline for its initial business combination from March 17, 2022, to June 17, 2022. This marks the second of two three-month extensions permitted under its governing structure. The company specializes in merging with businesses in technology, media, and telecommunications sectors.
Americas Technology Acquisition Corp. (ATA-UN) announced a $1,150,000 Extension Payment, allowing a three-month extension for its initial business combination deadline from December 17, 2021, to March 17, 2022. This payment, equating to $0.10 per share for public shareholders, was loaned by ATAC Limited Partnership, the Company's Sponsor. The loan can be converted into warrants at the Sponsor's discretion. This extension marks the first of potentially two allowed extensions under the Company's governing documents.
Americas Technology Acquisition Corp. (NYSE: ATA.U) announced an extension of the deadline to finalize a business combination from December 17, 2021, to March 17, 2022. This is the first of two possible three-month extensions permitted. In conjunction with this, the Sponsor will deposit $1,150,000 into ATAC's trust account by the deadline, which aids in financing a future business combination. As a blank check company, ATAC focuses on merging with businesses in technology, media, and telecommunications.
Americas Technology Acquisition Corp. (ATA-UN) has received a Notice from NYSE Regulation for failing to timely file its Quarterly Report on Form 10-Q for Q1 2021. The Company cited challenges in assessing whether outstanding warrants should be treated as liabilities, which contributed to the delay. The NYSE allows a six-month period for the Company to file its Form 10-Q to regain compliance. Failure to comply may lead to suspension or delisting. The Company is diligently working to file the report and cannot guarantee compliance with NYSE standards.
