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Dune Acquisition Corporation (NASDAQ:DUNE) has appointed Cecil White III to its Board of Directors, effective February 7, 2023. Mr. White will also serve on the Audit and Compensation Committees, bringing the total number of directors to five, with three being independent. He has extensive experience in business development, having worked with major brands such as Adidas and Mercedes Benz. His career began as an Investment Banker at Barclays, where he focused on consumer retail and healthcare. Dune plans to pursue merger opportunities primarily in the technology sector, particularly those utilizing a Software as a Service (SaaS) model.
Dune Acquisition Corporation (Nasdaq: DUNEU, DUNE, DUNEW) announced that its board unanimously recommends that stockholders vote against the proposed business combination with TradeZero Holding Corp. After careful consideration, the board deemed the transaction not advisable or fair to stockholders. Dune is still working on finalizing the proxy statement and will hold a special meeting for stockholder voting soon. There are associated risks, including the possibility that conditions for closing the merger may not be met.
Dune Acquisition Corporation (Nasdaq: DUNEU, DUNE, DUNEW) announced a legal complaint against TradeZero, alleging fraud and material breach of the merger agreement. Filed on April 6, 2022, the complaint indicates that TradeZero's actions have caused irreparable harm to Dune. Despite this, Dune continues to work on finalizing the proxy statement for the business combination with TradeZero and plans to hold a special stockholder meeting soon. However, risks remain regarding the closure of the merger and potential unsatisfied conditions.
TradeZero Holding Corp. has announced that its Canadian subsidiary, TradeZero Securities Canada ULC, is now a dealer-member of the Investment Industry Regulatory Organization of Canada. This approval allows TradeZero to offer equity and options trading on U.S. markets to Canadian retail traders. CEO Daniel Pipitone emphasized that this marks a key milestone in the company's international expansion. Furthermore, Dune Acquisition Corporation, which is merging with TradeZero, will continue to support the company's geographic growth.
TradeZero Holding Corp. has announced a new lease of 6,800 square feet in Industry City, Brooklyn, to accommodate its growth as it transitions to a public company. The firm currently occupies 1,800 square feet and employs 36 people locally, with over 130 employees company-wide. A definitive agreement was signed on October 12, 2021, with Dune Acquisition Corporation (Nasdaq: DUNE, DUNEW, DUNEU) for a public listing under the name TradeZero Global Inc. CEO Dan Pipitone emphasized the significance of this expansion for future growth.
TradeZero Holding Corp. has appointed Andrew Koslow as General Counsel, enhancing its C-suite structure as it transitions to a public company. This follows a definitive agreement with Dune Acquisition Corporation on October 12, 2021, aiming for a public listing under the name 'TradeZero Global Inc.' Koslow brings extensive experience in securities law, previously serving at Folio Financial and Cantor Fitzgerald. His expertise is expected to support TradeZero's growth strategy and compliance as it operates in the competitive online trading market.