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Evo Acquisition Corp. (Nasdaq: EVOJ) announced the termination of a business combination agreement with 20Cube Logistics Solutions Pte. Ltd. and other involved parties, effective April 25, 2023. This agreement, originally signed on October 18, 2022, was mutually terminated, making all ancillary documents void. The termination reflects strategic adjustments within Evo, potentially impacting its future growth and investment strategies. Shareholders are advised to monitor updates related to this decision as it may influence the company’s operational roadmap.
Evo Acquisition Corp. (Nasdaq: EVOJ) announced on April 3, 2023, that it received a notice from Nasdaq regarding its Market Value of Listed Securities (MVLS), which fell below the required $35 million for continued listing. The Company has until October 2, 2023, to regain compliance by achieving an MVLS of $35 million or more for ten consecutive business days.
Additionally, on April 5, 2023, Nasdaq notified the Company that it did not meet the Public Float Standard, requiring at least 500,000 publicly held shares. Evo Acquisition Corp. must submit a compliance plan by May 22, 2023, to address these concerns. Failure to comply may lead to delisting, although the Company can appeal such decisions. Current trading on Nasdaq remains unaffected, with a potential business combination with 20Cube Logistics still in evaluation.
Evo Acquisition Corp. (NASDAQ: EVOJU) announced that starting April 1, 2021, unit holders from its initial public offering can separately trade shares of Class A common stock and warrants. The shares will trade under the symbols ‘EVOJ’ for common stock and ‘EVOJW’ for warrants. Units not separated will continue to trade under ‘EVOJU’. Holders must contact Continental Stock Transfer & Trust Company to separate these units. The Company is a blank check firm focusing on completing mergers or acquisitions, particularly in technology and finance sectors.
Evo Acquisition Corp. (NASDAQ: EVOJU) announced the successful closing of its upsized IPO, issuing 12,500,500 units at $10.00 each, totaling gross proceeds of $125,005,000. The IPO included a full exercise of the underwriters’ over-allotment option. Each unit comprises one share of Class A common stock and a half warrant, with the whole warrant exercisable at $11.50. The offering began trading on February 9, 2021, and the proceeds will be placed in a trust account to facilitate a potential business combination, particularly targeting tech and financial sectors.
Evo Acquisition Corp. announced the pricing of its upsized initial public offering (IPO) of 10,870,000 units at $10.00 per unit, set to trade on Nasdaq under the symbol EVOJU starting February 9, 2021. Each unit includes one share of Class A common stock and a half redeemable warrant. The anticipated closing date for the offering is February 11, 2021, subject to customary conditions. The company, aimed at potential mergers in technology and financial sectors, has granted underwriters a 45-day option for an additional 1,630,500 units to cover over-allotments.
