NAAC - NAAC STOCK NEWS

North Atlantic Acquisition Corporation (Nasdaq: NAAC) has canceled its annual general meeting scheduled for January 25, 2023, and announced plans to dissolve and liquidate the company. This decision follows the inability to complete a business combination as required by its charter. Shareholders will receive approximately $10.13 per share for their Public Shares, which will be canceled after January 26, 2023. The trust account’s proceeds will be disbursed to shareholders, while the company's sponsor has waived redemption rights for Class B shares. Warrants will expire worthless.

North Atlantic Acquisition Corporation (NASDAQ: NAAC) has postponed its 2022 annual general meeting from January 24 to January 25, 2023. Shareholders are urged to vote on extending the deadline for completing a business combination to July 26, 2023. The Company has also extended the redemption deadline for Class A ordinary shares to January 23, 2023. If the extension is approved, the Sponsor will loan funds for each Class A Share not redeemed, capped at $192,500. The Trust Account will maintain its funds in an interest-bearing account with variable interest.

North Atlantic Acquisition Corporation (NAAC) has announced the immediate termination of its business combination agreement with TeleSign, Inc. due to unfavorable market conditions. Consequently, the special meeting for NAAC stockholders to approve the transaction has been cancelled. NAAC will now pursue alternative business combinations. CEO Gary Quin expressed disappointment over the merger's failure but acknowledged TeleSign's strong management and future potential. NAAC has 24 months from January 26, 2021, to complete its initial business combination.

North Atlantic Acquisition Corporation (NAAC) announced the postponement of its extraordinary general meeting of shareholders, originally scheduled for June 1, 2022. A new date for this meeting will be provided in the future. NAAC, a SPAC formed to merge with companies in Europe and North America, is currently pursuing a business combination with TeleSign, a leading provider of digital identity services. Shareholders are encouraged to review the definitive proxy statement filed with the SEC for details regarding the proposed transaction.

North Atlantic Acquisition Corporation (NAAC) has postponed its Extraordinary Meeting of shareholders from May 18, 2022 to June 1, 2022. The meeting aims to vote on proposals related to the Business Combination with TeleSign. A significant number of shareholders have already voted in favor of the merger, but all conditions for closing have yet to be met. The redemption deadline for shareholders is now May 27, 2022. NAAC continues to recommend that shareholders support the proposals outlined in the definitive proxy statement filed on April 19, 2022.

North Atlantic Acquisition Corp. (NASDAQ: NAAC) has announced a special shareholder meeting scheduled for May 18, 2022, to approve its business combination with TeleSign Corporation. This follows the effectiveness of the Registration Statement filed with the SEC. Upon successful approval, TeleSign's common stock will be listed on Nasdaq under the ticker 'TLSN'. The transaction aims to drive long-term growth and expand TeleSign's market reach, focusing on new customer segments.

North Atlantic Acquisition Corporation (NASDAQ: NAAC) has announced the public filing of a registration statement with the U.S. SEC regarding its proposed business combination with TeleSign. This follows a confidential submission made on January 7, 2022. The business combination is expected to close in Q2 2022, pending SEC review and shareholder approval. The transaction has been approved by the boards of both companies, highlighting its strategic importance in the digital economy sector. TeleSign's identity verification services support over 5 billion unique phone numbers monthly, enhancing digital security.

North Atlantic Acquisition Corporation (NASDAQ: NAAC) announced the confidential filing of a draft registration statement on Form S-4 with the SEC for its proposed business combination with TeleSign. This transaction, approved by the boards of directors of both companies, aims to close in Q2 2022, pending SEC review, shareholder approval, and regulatory clearances. TeleSign specializes in protecting digital identities and connecting global enterprises with over five billion phone verifications monthly. This acquisition marks a strategic move for NAAC in the TMT sector.

On December 16, 2021, TeleSign announced its plans to go public through a merger with North Atlantic Acquisition Corporation (NAAC), a SPAC with $380 million in trust. The deal includes $107.5 million in PIPE financing, setting TeleSign's pro forma enterprise value at approximately $1.3 billion. Projected revenues are expected to reach $391 million in 2021, with growth anticipated to $1.1 billion by 2026. The transaction, aimed at bolstering TeleSign's global presence and market reach, is expected to finalize in Q2 2022, pending approvals.