Welcome to our dedicated page for Evergreen Corporation news (Ticker: EVGRU), a resource for investors and traders seeking the latest updates and insights on Evergreen Corporation stock.
Evergreen Corporation (EVGRU) generated news primarily as a technology-focused special purpose acquisition company, or SPAC. Its disclosures describe a mandate to pursue a business combination with one or more businesses, with an intended focus on technology companies involved in Artificial Intelligence (AI), FinTech and financial services, the Metaverse, the Internet of Things (IoT), eCommerce, social commerce, Industry 4.0 and other digital economy themes in the ASEAN region.
News coverage for Evergreen Corporation has included announcements related to its initial public offering of units on the Nasdaq Global Market, where each unit consisted of a Class A ordinary share and a redeemable warrant. Subsequent releases detailed shareholder meeting logistics and proposals to amend the company’s articles of association and trust agreement, including extensions of the period available to complete a business combination and adjustments to share conversion and regulatory provisions.
A key news event was the September 2024 announcement of a definitive Business Combination Agreement between Evergreen Corporation and Forekast Limited, a technology managed services provider specializing in augmented intelligence. That release outlined Forekast’s focus on AI-driven insights and the strategic rationale for combining with a SPAC that targeted technology sectors. Later SEC filings and related news reported that Forekast terminated the Business Combination Agreement when the merger was not completed by the contractual deadline.
More recent updates have focused on Evergreen Corporation’s transition from an active SPAC to a company in wind-up. Filings describe the triggering of an automatic redemption event under its articles of association, board approval of the termination of its SPAC business, the redemption of public shares, cancellation of warrants and sponsor securities, delisting from Nasdaq, quotation on the OTC Pink market, and the filing of Form 15 to terminate registration of its securities. Investors and researchers can use the news stream for EVGRU to trace this full lifecycle, from IPO and target search through a proposed merger and eventual liquidation.
Evergreen (NASDAQ: EVGR) has announced a definitive merger agreement with Forekast , a technology managed services provider specializing in augmented intelligence. The combined company will operate as Forekast Group, valued at an enterprise value of $105 million. Forekast has demonstrated strong growth with a CAGR of over 20% in the past 5 years.
The merger aims to accelerate Forekast's growth, expand its market reach, and enhance its AI-powered solutions. The transaction is expected to close by the end of 2024, subject to customary closing conditions and shareholder approvals. Any remaining funds in EVGR's trust account will be used for R&D, marketing, market expansion, talent acquisition, and potential strategic acquisitions.
Evergreen Corporation (Nasdaq: EVGRU) announced the closing of its initial public offering, raising $115 million from the sale of 10 million units at $10.00 each, including an over-allotment of 1.5 million units. Each unit comprises one Class A ordinary share and one redeemable warrant. The units began trading on February 9, 2022, with forthcoming separations into Class A shares (EVGR) and warrants (EVGRW). The Company focuses on potential business combinations primarily in technology sectors including Artificial Intelligence, FinTech, and more in the ASEAN region.
Evergreen Corporation announced the pricing of its initial public offering (IPO) of 10 million units at $10.00 per unit, set to begin trading on Nasdaq under the symbol EVGRU on February 9, 2022. Each unit comprises one Class A ordinary share and a redeemable warrant, allowing the purchase of an additional share at $11.50. The offering intends to pursue a merger or business combination within technology sectors such as AI, FinTech, and the Metaverse, focusing on the ASEAN region. Closing is expected by February 11, 2022.
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