Business architecture

MDH Acquisition Corp. Seeks to Redeem Public Shares

Retrieved on: 
Monday, December 19, 2022
Professional Services, Finance, Transfer, NYSE, Finance Secretary (India), MDH, Share repurchase, Business architecture, Form, Proxy, United States Army Acquisition Corps, Form S-1, Acquisition, Commission, Security (finance)

“We were tireless in our efforts to unlock shareholder value as we evaluated over one hundred potential business combination partners.

Key Points: 
  • “We were tireless in our efforts to unlock shareholder value as we evaluated over one hundred potential business combination partners.
  • Ultimately, however, we were unable to reach an agreement where we felt confident that there would be shareholder appreciation.
  • Therefore, we remained disciplined and are returning the capital held in the trust account to our investors.
  • In such case, the Public Shares would be deemed cancelled and represent only the right to receive the redemption amount as of, and the last day of trading of the Public Shares would be, December 29, 2022.

Tata Communications to acquire US-based The Switch Enterprises to bring live video content production and transmission globally

Retrieved on: 
Thursday, December 22, 2022
BSE, Tata Communications, MES, Ecosystem, NSE, Collaboration, Tata Group, Information, Lifetime Entertainment Services, TATA, Risk, Growth, Business architecture, OTT, Failure, Report, Tier 1, Government, Television, Sport, Acquisition, Tata, Online shopping, Motor vehicle, Media

NEW YORK and MUMBAI, India, Dec. 22, 2022 /PRNewswire/ -- Tata Communications, a global digital ecosystem enabler, today announced it has entered into a definitive agreement through its wholly owned international subsidiary Tata Communications (Netherlands) B.V. to acquire The Switch Enterprises LLC. New York-headquartered, The Switch is a leading global end-to-end live video production and transmission services provider with reach to top tier sporting venues in North America. With this transaction, Tata Communications will gain a strong foothold into the Americas media and entertainment market, extend its portfolio into live video production and become uniquely positioned as an end-to-end media ecosystem player in the entire content development value chain globally. 

Key Points: 
  • New York-headquartered, The Switch is a leading global end-to-end live video production and transmission services provider with reach to top tier sporting venues in North America.
  • In addition, The Switch production infrastructure as a service model will allow Tata Communications customers to accelerate adoption of remote production from any event around the world."
  • On completion of the transaction, The Switch Enterprises will join the Media and Entertainment Services (MES) business of Tata Communications under Dhaval Ponda.
  • TATA COMMUNICATIONS and TATA are trademarks or registered trademarks of Tata Sons Private Limited in India and certain countries.

Tata Communications to acquire US-based The Switch Enterprises to bring live video content production and transmission globally

Retrieved on: 
Thursday, December 22, 2022
BSE, Tata Communications, MES, Ecosystem, NSE, Collaboration, Tata Group, Information, Lifetime Entertainment Services, TATA, Risk, Growth, Business architecture, OTT, Failure, Report, Tier 1, Government, Television, Sport, Acquisition, Tata, Online shopping, Motor vehicle, Media

NEW YORK and MUMBAI, India, Dec. 22, 2022 /PRNewswire/ -- Tata Communications, a global digital ecosystem enabler, today announced it has entered into a definitive agreement through its wholly owned international subsidiary Tata Communications (Netherlands) B.V. to acquire The Switch Enterprises LLC. New York-headquartered, The Switch is a leading global end-to-end live video production and transmission services provider with reach to top tier sporting venues in North America. With this transaction, Tata Communications will gain a strong foothold into the Americas media and entertainment market, extend its portfolio into live video production and become uniquely positioned as an end-to-end media ecosystem player in the entire content development value chain globally. 

Key Points: 
  • New York-headquartered, The Switch is a leading global end-to-end live video production and transmission services provider with reach to top tier sporting venues in North America.
  • In addition, The Switch production infrastructure as a service model will allow Tata Communications customers to accelerate adoption of remote production from any event around the world."
  • On completion of the transaction, The Switch Enterprises will join the Media and Entertainment Services (MES) business of Tata Communications under Dhaval Ponda.
  • TATA COMMUNICATIONS and TATA are trademarks or registered trademarks of Tata Sons Private Limited in India and certain countries.

ECARX and COVA Acquisition Corp. Announce Closing of Business Combination

Retrieved on: 
Wednesday, December 21, 2022
Slate, Acceleration, History, Lotus, Geely, Volvo, China International Capital Corporation, Car, Transport, Heart, Growth, UBS, Skadden, Computer, Business, UBS AG, Business architecture, Original equipment manufacturer, OEM, Software, Investment, ECX, Acquisition, Melinda Haag, IHU, Video game, Polestar

Proceeds will support ECARX in accelerating its technology development and product roll-out, strategic acquisitions and investments, and international expansion

Key Points: 
  • Proceeds will support ECARX in accelerating its technology development and product roll-out, strategic acquisitions and investments, and international expansion
    LONDON, Dec. 21, 2022 /PRNewswire/ -- ECARX Holdings, Inc. ("ECARX"), a global mobility tech company, and COVA Acquisition Corp., ("COVA"), a publicly traded special purpose acquisition company, today announced the completion of their previously announced business combination (the "Business Combination"), which closed on December 20, 2022.
  • The Business Combination was approved at an Extraordinary General Meeting of COVA shareholders held on December 14, 2022.
  • As the industry transitions to an all-electric future, ECARX will help to transform cars into computers on wheels – always on, always connected.
  • COVA Acquisition Corp. is a blank check company whose business purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

MHI Signs MoU with Chile's Guacolda Energia for Feasibility Study of Ammonia Co-Firing at a Coal-Fired Thermal Power Plant

Retrieved on: 
Wednesday, December 7, 2022
Mitsubishi Heavy Industries, Republic, SPMI, Electricity, IPP, Quality of life, Rabigh 2 IPP, Mitsubishi Power Systems Europe, Carbon, Ammonia, MHI, Safety, Memorandum of understanding, Spondyloarthropathy, Business architecture, Acceleration, CO2, Microbial contamination of diesel fuel, Greenhouse, Coal, Renewable energy, Guacolda

- Verification of ammonia co-firing at a coal-fired thermal power plant using core facilities supplied by MHI.

Key Points: 
  • - Verification of ammonia co-firing at a coal-fired thermal power plant using core facilities supplied by MHI.
  • The signing ceremony was held at the Nagasaki Shipyard & Machinery Works in Japan, the base for MHI;s steam power plant business.
  • The executive team from Guacolda was led by Chairman Jorge Rodriguez, with MHI represented by Masahiko Hokano, Head of the Steam Power Maintenance Innovation (SPMI) Business Division.
  • Under the feasibility study plan based on the MoU, MHI, with support from its power solutions brand Mitsubishi Power, will determine and conduct a study of supplying the ammonia burners and other boiler facilities and equipment necessary for ammonia co-firing.

EQS-News: va-Q-tec and EQT Private Equity agree strategic partnership

Retrieved on: 
Sunday, December 18, 2022
Creativity, Gesellschaft mit beschränkter Haftung, Investment, Mubadala Investment Company, Management, Partnership, Bidding, Financial Oversight and Management Board for Puerto Rico, Wallenberg, ISIN, EQT, Completion, EUR, Workforce, Business architecture, Growth, Supervisory board, Security (finance), Real estate, Property management

GmbH (in future: Fahrenheit AcquiCo GmbH) (the “Bidder”) and its sole shareholder, each controlled by the EQT X Fund (hereinafter together with the Bidder, “EQT Private Equity”), in relation to a voluntary public takeover offer by EQT Private Equity as well as the terms and conditions of a strategic partnership.

Key Points: 
  • GmbH (in future: Fahrenheit AcquiCo GmbH) (the “Bidder”) and its sole shareholder, each controlled by the EQT X Fund (hereinafter together with the Bidder, “EQT Private Equity”), in relation to a voluntary public takeover offer by EQT Private Equity as well as the terms and conditions of a strategic partnership.
  • As part of the Business Combination Agreement, va-Q-tec and EQT Private Equity have further agreed on the key pillars of the transaction and their common understanding regarding va-Q-tec’s future development in the event that the takeover offer is successfully completed.
  • EQT shares these values, with its foundation in the tradition of the Wallenberg family, where responsible ownership is a key principle.
  • EQT Private Equity will subscribe for the entirety of this capital increase at the offer price upon completion of the takeover offer.

Pacifico Acquisition Corp. and Caravelle Group Co., Ltd Announce Closing of Business Combination

Retrieved on: 
Friday, December 16, 2022
Acquisition, Business, LLP, CACO, Business architecture, Growth

NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Pacifico Acquisition Corp. (NASDAQ: PAFOU, “Pacifico,” or the “Company”), a special purpose acquisition company, and Caravelle Group Co., Ltd ("Caravelle"), a global ocean technology company, today announced the completion of their previously announced business combination (the "Business Combination").

Key Points: 
  • NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Pacifico Acquisition Corp. (NASDAQ: PAFOU, “Pacifico,” or the “Company”), a special purpose acquisition company, and Caravelle Group Co., Ltd ("Caravelle"), a global ocean technology company, today announced the completion of their previously announced business combination (the "Business Combination").
  • Upon completion of the Business Combination, Caravelle International Group, the combined company, will be a publicly traded entity.
  • Edward Cong Wang, Chief Executive Officer of Pacifico commented, "We are excited to complete the Business Combination between Pacifico and Caravelle.
  • We are confident that, post Business Combination, Caravelle is well positioned to bring new growth opportunities to the industry and generate more value for shareholders."

Energem Corp. Deposits Extension Funds in Trust Account

Retrieved on: 
Friday, December 16, 2022
Transfer, Benchmark, Extraordinary general meeting, EF Hutton, Acquisition, Trust, Prospectus, BHD, Enterprise file synchronization and sharing, Communication, Failure, Person, Level 3, Form, Second Amendment to the United States Constitution, Financial assistance (share purchase), Sale, Finance Secretary (India), PIPE, Interest on Lawyer Trust Accounts, ARC, Bank account, IPO, Exercise, Name, Extension, Proxy, Business architecture, Growth, Avenue, Risk, Xi, Continental, Security (finance), Risk management

Kuala Lumpur, Malaysia, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Energem Corp. (“Energem” or the “Company”) (Nasdaq: ENCP, ENCPW), a special purpose acquisition company, today announced the payment of approximately $85,296.45 to its Trust Account (as defined herein) in connection with the second monthly extension of the Termination Date (as defined herein).

Key Points: 
  • Kuala Lumpur, Malaysia, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Energem Corp. (“Energem” or the “Company”) (Nasdaq: ENCP, ENCPW), a special purpose acquisition company, today announced the payment of approximately $85,296.45 to its Trust Account (as defined herein) in connection with the second monthly extension of the Termination Date (as defined herein).
  • In connection therewith, the Company entered into an Investment Management Trust Agreement, dated November 18, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as trustee (“Continental”) (the “Trust Agreement”).
  • A form of the Trust Agreement was initially filed as an exhibit to the Company’s Registration Statement on Form S-1 (File No.
  • Following the payment of the redemptions, the Trust Account had a balance of approximately $19,360,390.01.

Digerati Technologies Reports 115% Revenue Growth to $8.1 Million for First Quarter FY2023

Retrieved on: 
Friday, December 16, 2022
Acquisition, EPS, Sale, WAN, CRIMINAL, Tax, Form, Register, Internet, Depreciation, EBITDA, Unified communications, Name, Business architecture, OTCQB, Administration, Registration statement, Operating cost, CFO, Prospectus, Nextlevelism, Net, SPAC, GAAP, Nashville Charter Amendment 1, SAN, Communication, Nature, Probability, Skynet, PBX, Renewable energy, Bookkeeping, Retail, Management, Risk management, Property management, Security (finance), Cryptocurrency, Digerati, Adjustment

SAN ANTONIO, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Digerati Technologies, Inc. (OTCQB: DTGI) ("Digerati" or the "Company"), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, announced today financial results for the three months ended October 31, 2022, the Company’s first quarter for its Fiscal Year 2023.

Key Points: 
  • Key Financial Highlights for the First Quarter Fiscal Year 2023 (Ended October 31, 2022)
    Revenue increased by 115% to $8.1 million compared to $3.8 million for Q1 FY2022.
  • Gross profit increased 131% to $5.3 million compared to $2.3 million for Q1 FY2022.
  • Non-GAAP Adjusted EBITDA income increased by 161% to $0.8 million, excluding all non-cash items and one-time transactional expenses, compared to $0.3 million for Q1 FY2022.
  • Key Business Highlights for the First Quarter Fiscal Year 2023 (Ended October 31, 2022)
    Announced business combination with Minority Equality Opportunities Acquisition Inc. (MEOA).

SAGALIAM ACQUISITION CORP. ANNOUNCES ADJOURNMENT OF THE SPECIAL MEETING OF STOCKHOLDERS FOR APPROVING AN AMENDMENT TO ITS CHARTER TO EXTEND THE DEADLINE TO CONSUMMATE ITS INITIAL BUSINESS COMBINATION

Retrieved on: 
Thursday, December 15, 2022
IR, Acquisition, Republic, Inflation, Charter, Mechanics, LP, Star, Communication, Person, Nature, Treasury, Sale, Suite, State, U.S. Department of Defense Strategy for Operating in Cyberspace, Sponsor, Law, Prospectus, Eastern Time Zone, U.S. Department of the Treasury, Office of Inspector General, BCA, Name, Extension, Business architecture, Proxy, Meeting, Partnership, Health insurance, Security (finance)

The Sponsor intends to support Sagaliam in the wake of a new potential excise tax that may be levied on stockholder redemptions in 2023.

Key Points: 
  • The Sponsor intends to support Sagaliam in the wake of a new potential excise tax that may be levied on stockholder redemptions in 2023.
  • On August 16, 2022, the Inflation Reduction Act of 2022 (the “IR Act”) was signed into federal law.
  • The excise tax is imposed on the repurchasing corporation itself, not its stockholders from which shares are repurchased.
  • The extensions authorized by the Extension Amendment Proposal could result in the closing of Sagaliam’s recently announced business combination with Allenby Montefiore Limited after December 31, 2022.