Welcome to our dedicated page for Newcourt Acquisition news (Ticker: NCAC), a resource for investors and traders seeking the latest updates and insights on Newcourt Acquisition stock.
Newcourt Acquisition Corp (NASDAQ: NCAC) is a Special Purpose Acquisition Company (SPAC) dedicated to identifying and merging with high-potential companies. By facilitating strategic business combinations, Newcourt aims to create substantial value for its shareholders. The company targets firms that exhibit strong growth potential and a commitment to excellence.
In its most recent venture, Newcourt has announced a significant business combination with Psyence Group Inc. (CSE: PSYG), a life science biotechnology company focused on natural psychedelics. Psyence is renowned for its pioneering work with psilocybin products aimed at treating psychological trauma and mental health issues, particularly in palliative care contexts. With operations spanning several countries, including Canada, the United Kingdom, Southern Africa, and Australia, Psyence represents a promising partner for Newcourt's growth strategy.
The conditions to closing this business combination have not yet been satisfied, but both parties are actively working to expedite the process. Key steps include obtaining Nasdaq approval for listing Pubco’s ordinary shares following the business combination. On January 22, 2024, Newcourt’s shareholders approved an extension for completing this deal, now set for February 22, 2024.
Newcourt’s collaboration with Psyence extends to various divisions, including Psyence Production, Psyence Therapeutics, and Psyence Function. These divisions focus on the cultivation, production, and clinical research of psilocybin mushrooms, aiming to develop advanced natural psilocybin products for therapeutic use.
For those interested in more detailed information, Newcourt has filed a Registration Statement on Form F-4 with the Securities and Exchange Commission (SEC), which includes a comprehensive proxy statement/prospectus about the proposed business combination. Shareholders and interested parties are encouraged to review these documents for critical insights into the merger's specifics.
Newcourt Acquisition Corp (NASDAQ: NCAC) announced modifications to its Trust Agreement Amendment related to the extension of time for completing its initial business combination. Rather than amending Section 1(c) to hold funds entirely in cash, the Company will maintain the current structure, allowing it to liquidate securities held in the trust account by October 19, 2023. If approved, the extension will allow the Company until July 22, 2023, to finalize a business combination. An amendment to the Definitive Proxy Statement will be filed with the SEC.
Newcourt Acquisition Corp announces its upsized initial public offering, successfully closing on 25,000,000 units at $10.00 each, raising $250 million in gross proceeds. The offering included 3,000,000 units from the underwriters' over-allotment option. Trading commenced on Nasdaq under the ticker 'NCACU' on October 20, 2021. Each unit comprises one Class A share and one-half redeemable warrant, with the anticipated separate trading of shares and warrants under 'NCAC' and 'NCACW.' The firm aims to target fintech businesses in emerging markets.
Newcourt Acquisition Corp announced the pricing of its upsized initial public offering (IPO) of 22,000,000 units at $10.00 each. Trading begins on Nasdaq under the ticker symbol 'NCACU' on October 20, 2021. Each unit comprises one Class A ordinary share and one-half warrant, with whole warrants priced at $11.50. The offering is expected to close on October 22, 2021, pending customary conditions. The company focuses on acquiring fintech businesses in emerging markets and has granted underwriters a 45-day option to purchase an additional 3,300,000 units.
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