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Social Leverage Acquisn Corp I - SLACU STOCK NEWS

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Rhea-AI Summary

Social Leverage Acquisition Corp I (NASDAQ: SLAC) and W3BCLOUD Holdings Inc. have revised their business combination agreement, adjusting W3BCLOUD’s pro forma enterprise value from $1.25 billion to approximately $700 million, indicating a 44% decrease. Additionally, W3BCLOUD has lowered the minimum cash balance required at closing from $150 million to $40 million. SLAC has also secured $6.5 million through Non-Redemption Agreements to support the transaction. W3BCLOUD is pursuing a $150 million equity facility to bolster its growth strategy. SLAC stockholders will vote on the extension of the business combination timeline at a special meeting scheduled for February 17, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.69%
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Social Leverage Acquisn Corp I

Nasdaq:SLACU

SLACU Rankings

SLACU Stock Data

34.50M
0.45%
Shell Companies
Financial Services
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United States
Scottsdale