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Malacca Straits Acquisition Company Limited (NASDAQ: MLAC) is a blank check company focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was listed on the NASDAQ to leverage its management team’s extensive experience in business and acquisitions across various industries.
Recently, on June 13, 2023, Malacca Straits Acquisition Company Limited announced that it has mutually agreed with Indiev, Inc. and other parties to terminate their previously announced Agreement and Plan of Merger. This decision takes effect from June 8, 2023. Following this development, Malacca Straits intends to liquidate and return funds to holders of its Class A ordinary shares by June 16, 2023.
Headed by CEO Gordon Lo, Malacca Straits has always aimed to create value for its shareholders through strategic business decisions. Although the recent termination of the merger agreement signifies a significant pivot, it ensures shareholders are promptly informed and their investments safeguarded.
For more detailed and updated information about Malacca Straits Acquisition Company Limited, including the latest news and financial updates, shareholders and interested parties can contact Gordon Lo directly at +852 21060888.
Mountain Lake Acquisition Corp has successfully completed its initial public offering (IPO), raising $230 million in gross proceeds through the sale of 23 million units at $10.00 per unit, including 2 million units from the underwriters' over-allotment option. Trading began on December 13, 2024, on Nasdaq under 'MLACU'. Each unit comprises one Class A ordinary share and one right, with ten rights convertible to one share upon business combination completion.
The blank check company, led by CEO Paul Grinberg and CFO Douglas Horlick, aims to merge with established, scalable businesses. BTIG, serves as the sole book-running manager for the offering, which was declared effective by the SEC on December 12, 2024.
Mountain Lake Acquisition Corp has announced the pricing of its upsized initial public offering (IPO) of 21,000,000 units at $10.00 per unit, totaling $210,000,000. Each unit comprises one Class A ordinary share and one right, with each right convertible to one-tenth of a Class A ordinary share upon business combination completion.
The units will trade on Nasdaq under MLACU, with the shares and rights later trading separately as MLAC and MLACR. The offering, expected to close December 16, 2024, includes a 45-day overallotment option for underwriters to purchase up to 3,150,000 additional units. The blank check company aims to merge with established, scalable businesses under CEO Paul Grinberg and CFO Douglas Horlick's leadership.
Malacca Straits Acquisition Company Limited (Nasdaq: MLAC) announced it received a Public Float Notice from Nasdaq on April 21, 2023, indicating it does not meet the required minimum of 500,000 publicly held shares for continued listing. The company has until June 5, 2023, to submit a plan to regain compliance. Although the notice does not immediately affect the trading of its securities, there is no assurance that the company will achieve compliance with Nasdaq's Public Float Standard or other criteria.
Founded for mergers and acquisitions, Malacca Straits went public on July 17, 2020, with its units, Class A ordinary shares, and public warrants trading on Nasdaq. The firm plans to evaluate options to regain compliance but acknowledges multiple risks and uncertainties ahead.
PT Asia Vision Network (AVN) plans to become publicly traded through a merger with Malacca Straits Acquisition Company Limited (NASDAQ:MLAC). The merger is subject to standard closing conditions and shareholder approval, expected to finalize in Q3 2021. AVN operates Indonesia’s rapidly growing OTT media service, Vision+, and broadband provider, MNC Play. As of December 2020, Vision+ boasts 32 million monthly active users, with 1.6 million paid subscribers. MNC Play has approximately 296,000 subscribers, expanding its services through partnerships to reach an additional 700,000 households.
The press release announces that PT Asia Vision Network, a subsidiary of PT MNC Vision Networks, has filed a confidential draft Registration Statement on Form F-4 with the SEC for a business combination with Malacca Straits Acquisition Company (NASDAQ: MLAC). This deal is expected to close in Q3 2021, subject to shareholder approval. Upon completion, AVN will be listed on NASDAQ, enhancing its growth prospects as Indonesia's rapidly expanding OTT and streaming business. AVN's Vision+ boasts 32 million monthly active users, while MNC Play is a leading broadband operator in Indonesia.
Asia Vision Network has announced a merger with Malacca Straits Acquisition Company Limited (MLAC), valuing the combined entity at $573 million. The merger will enable AVN to continue as a new US-listed holding company on NASDAQ and is expected to close in late Q2 or early Q3 2021. AVN combines Indonesia's fastest-growing OTT media business with the country’s third-largest broadband and IPTV operator, MNC Play. This strategic move aims to leverage AVN's significant content library and increasing local demand, enhancing its market position and revenue prospects.
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