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Pontem Corporation (NYSE: PNTM.U) announced that shareholders approved an extension for completing a business combination, moving the deadline from January 15, 2023, to July 15, 2023. The Board retains discretion to liquidate the Company earlier if deemed necessary. In conjunction with this extension, Pontem LLC and HSM-Invest committed to monthly contributions of $833,333 to the Trust Account, totaling up to $5 million over six months. The initial deposit occurred on January 13, 2023. This move aims to strengthen the Company's financial position while seeking a suitable business combination.
Pontem Corporation (NYSE: PNTM.U) announced on June 1, 2021 that it received a notice of non-compliance from the NYSE due to delays in filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The delay is attributed to new SEC guidance issued on April 12, 2021, regarding accounting for warrants issued by SPACs. The company is currently working to file the report as soon as possible.
Pontem Corporation announced the closing of its upsized initial public offering (IPO) on January 19, 2021, raising $690 million. The offering comprised 60 million units priced at $10.00 per unit, with an additional 9 million units sold due to the underwriters' over-allotment option. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. The securities will trade under the symbols PNTM for shares and PNTM.WS for warrants. Credit Suisse and Guggenheim acted as joint book-running managers for the offering.
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