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Breeze Holdings Acquisition Corp. (BREZ) provides investors and market observers with essential updates on its special purpose acquisition company activities. This dedicated news hub aggregates official announcements, regulatory filings, and strategic developments related to BREZ's pursuit of private company mergers.
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Breeze Holdings Acquisition Corp. (NASDAQ: BREZ) announced progress from D-Orbit, its merger partner, in a letter from CEO Luca Rossettini. Key highlights include advancing scheduled missions, with two launches slated for 2022, and a growing backlog now at €22.75 million, a 20% increase since December 2021. D-Orbit is enhancing its ION Satellite Carrier technology and aims to lead in in-orbit services, including debris removal. The merger is expected to finalize in Q2 or Q3 2022, positioning D-Orbit for rapid growth in the evolving space economy.
D-Orbit announced the launch of SPACELUST, its fifth mission with the ION Satellite Carrier, scheduled for April 2022 aboard SpaceX's Falcon 9 Transporter-4. The mission will deploy four satellites including Kleos Space's Patrol Mission, enhancing its data collection capacity by an additional 119 million km² daily. ION's versatility supports various payloads, including academic projects from the University of Chile. This mission continues D-Orbit's trend of rapid launches, with plans for another mission in June 2022.
D-Orbit has signed a contract with Spaceflight Inc. to launch the Kleos Patrol Mission (KSF2) satellites aboard the ION Satellite Carrier on the upcoming SpaceX Transporter-4 mission, scheduled for April 2022. Originally set for the Transporter-3 mission, the launch was rescheduled due to vehicle disembarkation. The four satellites will enhance operational capabilities, providing improved radio frequency geolocation services. D-Orbit's ION platform also reduces costs and time from launch to operation by up to 85% and 40%, respectively.
D-Orbit S.p.A., a leading space logistics firm, will go public via a merger with Breeze Holdings Acquisition Corp (NASDAQ: BREZ), valuing D-Orbit at approximately $1.28 billion. This partnership aims to leverage the expertise of The Charles F. Bolden Group to enhance D-Orbit's growth and service offerings. Notable technologies include the ION Satellite Carrier, which streamlines satellite deployment and reduces costs. With a projected revenue of $453 million by 2024 and an existing backlog of $21.5 million, D-Orbit is positioned to capitalize on the expanding space economy estimated to reach $1.4 trillion by 2030.
Breeze Holdings Acquisition Corp. (NASDAQ: BREZ) announced it received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to a delayed filing of its Quarterly Report on Form 10-Q for Q3 2021. The Company filed a Form 12b-25 for the late filing and is revising its financial statements to classify all common stock as temporary equity following SEC guidance. The firm has 60 days to submit a compliance plan, which, if accepted, could extend its deadline up to 180 days, or until May 23, 2022.
Breeze Holdings Acquisition Corp. (NASDAQ: BREZ) announced receipt of a notice from Nasdaq for non-compliance with Listing Rule 5250(c)(1) due to a late filing of its Q1 2021 Form 10-Q. The notice, dated May 28, 2021, does not immediately affect trading or listing. The delay is attributed to the evaluation of the SEC's Staff Statement on SPAC warrants, preventing timely filing by the due date of May 17, 2021. Breeze has 60 days to submit a compliance plan, with a potential extension of up to 180 days for regaining compliance.
