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TG Venture Acquisition Corp. (NASDAQ:TGVC) announced a postponement of its Special Meeting from April 27, 2023, to May 4, 2023. This virtual meeting will still allow stockholders to participate using their 12-digit control number. The estimated redemption price per share remains at approximately $10.37.
If approved, Extension Proposals will allow for a business combination period extension, funded by a contribution from TGVC's sponsor of up to $100,000 or $0.04 per share for Class A Common Stock until November 5, 2023. Without contributions by the sponsor, TGVC may liquidate.
Stockholders can redeem shares until May 2, 2023, and vote regardless of whether they have sold their shares. The meeting will address key proposals affecting TGVC's future business strategy.
TG Venture Acquisition Corp. (TGVC) has filed an investor presentation with the SEC regarding its pending business combination with The Flexi Group, a leading flexible workspace operator in Asia. The deal, initially announced on December 5, 2022, has an implied enterprise value of $205 million. The transaction is anticipated to close in the second quarter of 2023, subject to customary conditions. TGVC aims to list under the ticker symbol FLXG post-combination. The Flexi Group operates 45 locations across 12 cities and engages in a joint venture model, minimizing financial obligations.
The Flexi Group, the largest flexible workspace operator in Asia, has announced a definitive merger agreement with TG Venture Acquisition Corp. (TGVC). This transaction values The Flexi Group at an implied enterprise value of $205 million and is expected to close in Q2 2023, pending regulatory approvals. The deal aims to enhance expansion opportunities of The Flexi Group's multi-brand model across Asia, North America, and Europe. Following the merger, shares are expected to trade under the ticker FLXG.