공시 • Mar 13
Nasdaq to Delist the Common Stock Class A, Unit, Warrant of AltEnergy Acquisition Nasdaq announced that it will delist the common stock Class A, unit, warrant of AltEnergy Acquisition Corp. AltEnergy Acquisition’s stock was suspended on November 05, 2024 and has not traded on Nasdaq since that time. 공시 • Apr 02
AltEnergy Acquisition Corp. announced delayed annual 10-K filing On 04/01/2024, AltEnergy Acquisition Corp. announced that they will be unable to file their next 10-K by the deadline required by the SEC. 공시 • Feb 23
Car Tech LLC agreed to acquire AltEnergy Acquisition Corp. (NasdaqGM:AEAE) from AltEnergy Acquisition Sponsor, LLC for $120 million. Car Tech LLC entered into an Agreement and Plan of Merger to acquire AltEnergy Acquisition Corp. (NasdaqGM:AEAE) from AltEnergy Acquisition Sponsor, LLC for $120 million in a reverse merger transaction on February 21, 2024. The consideration includes $80,000,000, in shares of Altenergy Post-Merger Common Stock, minus the amount of any shortfall in AltEnergy’s obligation to source at least $50,000,000 in proceeds from a private placement to be consummated immediately prior to the Merger, and an additional $40,000,000 as the Earn Out Consideration. 4,000,000 shares of AltEnergy’s stock to be issued to holders of Car Tech Units as the Earn Out Consideration.
Consummation of the transaction is subject to: (a) obtaining approval of the Merger by the holders of a majority in voting power of the AltEnergy Common Stock; (b) obtaining approval of the Merger by the holders of a majority of the Car Tech Units; (c) there being no laws or injunctions by governmental authorities or other legal restraint prohibiting consummation of the transactions contemplated under the Merger Agreement; (d) if required, the required filings under the HSR Act having been completed and the waiting period applicable to the Merger under the HSR Act having expired or terminated; (e) the AltEnergy stock being listed on Nasdaq; (f) the Form S-4 having become effective and no stop order suspending the effectiveness of the Form S-4 having been issued by the SEC; and (g) AltEnergy having at least $5,000,001 in net tangible assets after giving effect to the consummation of the Merger. Car Tech has separate conditions to closing, including, among others, that no material adverse effect has occurred with respect to AltEnergy and that AltEnergy has raised at least $50,000,000 in an investment into the Company. AltEnergy has separate conditions to closing, including, among others, that no material adverse effect having occurred with respect to Car Tech and certain indebtedness of Car Tech having been converted into Car Tech units.
The Boards of Directors of AltEnergy and the Management Committee of Car Tech have each unanimously approved the proposed merger, which is expected to be completed in the first half of 2024, subject to regulatory approval, the approval of the proposed merger by AltEnergy’s stockholders and Car Tech’s members and the satisfaction or waiver of other customary closing conditions.
GLC Advisors & Co., LLC is acting as financial advisor to AltEnergy. Jack Levy and Walter Rahmey of Morrison Cohen LLP is acting as legal advisor to AltEnergy. Finhaven Capital Inc. is acting as the exclusive financial advisor to Car Tech. Anthony Epps and Dan Miller of Dorsey & Whitney LLP is serving as legal advisor to Car Tech. 공시 • Feb 22
Advantive acquired Abaca Systems Limited. Advantive acquired Abaca Systems Limited on November 7, 2023.Advantive completed the acquisition of Abaca Systems Limited on November 7, 2023. Carlos Gil Rivas, Anthony Antioch and Adrian Duncan of Kirkland & Ellis International LLP acted as legal advisor to Advantive. Board Change • Dec 31
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director William Campbell is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Oct 15
AltEnergy Acquisition Corp. Receives Non-Compliance Letter form Nasdaq On October 9, 2023, AltEnergy Acquisition Corp., a Delaware corporation (the Company"), received a written notice (the Notice") from the Nasdaq Listing Qualifications Department of The Nasdaq Stock Market (Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(2), which requires the Company to maintain at least 400 total holders for continued listing on the Nasdaq Global Market (the Minimum Total Holders Rule"). The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on the Nasdaq Global Market. In accordance with Nasdaq Listing Rule 5810(c)(2)(A)(i), the Notice states that the Company has 45 calendar days, or until November 23, 2023, to submit a plan to regain compliance with the Minimum Total Holders Rule. If the Company is unable to regain compliance by that date, the Company intends to submit a plan to regain compliance with the Minimum Total Holders Rule within the required timeframe. If Nasdaq accepts the Company's plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the date of the Notice to evidence compliance with the Minimum Total Holders Rule. If Nasdaq does not accept the Company's plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. 공시 • Jun 08
AltEnergy Acquisition Corp. Announces Resignation of Arul Gupta as Chief Operating Officer AltEnergy Acquisition Corp. announced that Arul Gupta, the registrant's chief operating officer, advised the registrant on June 5, 2023, that he was resigning from that position effective June 6, 2023. 공시 • May 17
AltEnergy Acquisition Corp. announced delayed 10-Q filing On 05/16/2023, AltEnergy Acquisition Corp. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Apr 07
AltEnergy Acquisition Corp. Announces Board Changes AltEnergy Acquisition Corp. announced that on April 1, 2022, Audrey Zibelman submitted to the Company’s Board of Directors notice of her resignation from her position as a director of the Board, with such resignation to be effective immediately. On April 4, 2022, the Board elected Kimberly Heimert as a director of the Company, effective immediately, to serve in such capacity until a successor has been elected and qualified, or until her resignation or removal. Ms. Heimert will serve as a member of the Company’s Compensation Committee and Nominations and Corporate Governance Committee. Ms. Heimert has served as the Senior Advisor to the CEO and Senior Partner of Africa50 Infrastructure Acceleration Fund since October 2021. Prior to that, she served as General Counsel, Board Counsel and Corporate Secretary of Africa50 from March 2018 to October 2021. From April 2014 to January 2017, she was Vice President and General Counsel at OPIC (Overseas Private Investment Corporation). Ms. Heimert has also worked for the law firms of Shearman & Sterling, Chadbourne & Parke, and White & Case.