Benessere Capital Acquisition (NASDAQ:BENE) the stock is on the move Wednesday after the Special Purpose Acquisition Company (SPAC) today revealed its proposed merger.
Let’s review this news below and everything traders need to know about BENE stocks.
- First, the PSPC merger announced today will allow the company to take ECombustible Energy Public.
- Benessere Capital Acquisition holds $ 116.5 million in trust, of which $ 115 million came from its initial public offering (IPO) earlier this year.
- The deal will have a newly formed successor to Benessere who will issue $ 805 million in common stock.
- Holders of eCombustible Energy securities will receive these shares once the transaction is completed.
- There is also an option for these holders to acquire up to 59 million additional shares.
- eCombustible Energy is a long-term fuel solutions company seeking a carbon-free future.
- Benessere Capital Acquisition plans to provide more details of the deal in an upcoming 8-K file with the United States Securities and Exchange Commission (SEC).
- It should also be noted that Benessere Capital Acquisition is headed by Patrick Orlando.
- He also runs Acquisition of the digital world (NASDAQ:DWAC), which is the PSPC that goes public with former President Donald Trump’s social media company.
Jorge Arevalo, CEO of eCombustible Energy, said this about the SPAC deal.
“This business combination is intended to fuel the acceleration and adoption of eFuel, and we are confident that we can help many of the world’s largest industrial companies switch to our carbon-free fuel and advance ESG objectives in a transparent, viable and impactful manner. manner.”
BENE shares were up 6.8% on Wednesday morning.
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At the date of publication, William White did not hold (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, submitted to InvestorPlace.com Publication guidelines.
Article printed by InvestorPlace Media, https://investorplace.com/2021/11/bene-stock-9-things-to-know-about-dwac-sister-spac-benessere-capital/.
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