Vertex Technology Acquisition Corp (VTAC)

Novo Tellus says it will not de-Spac, citing market conditions

Ng Jing Shen (left), chief technology officer of 17Live. The livestreaming platform listed on the Singapore Exchange after completing a business combination with Vertex Technology Acquisition Company.

Livestreaming platform 17Live aims to convince investors of booming content creator industry

17Live mainly operates in Japan and Taiwan.

17Live tumbles 19% in mainboard debut after VTAC de-Spac

The number of outstanding shares used to calculate the redemption price includes the shares held by Venezio and the sponsor Vertex Venture Holdings, but excludes the promote shares, says VTAC.

VTAC to pay redemption price of S$5.01 on Dec 8

These shareholders have exercised their redemption right for some 26 million shares as at the redemption record date, which amounts to about 62.5 per cent of the company’s issued share capital of 41.6 million shares.

Independent VTAC shareholders redeem nearly all capital, approve 17Live combination

VTAC, led by non-executive chairman Chua Kee Lock, has endorsed the merger, citing 17Live’s strong management, the potential for scale and its alignment with Vertex Holdings’ areas of expertise.
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Turn Capital partners (from left) Shang Koo, Ho Kheng Lian and Joseph Phua are targeting deals in the consumer and technology sectors.

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The move is subject to the completion of its proposed business combination with live-streaming operator 17Live, the special purpose acquisition company says.

VTAC to raise S$3 million from Pipe investors on successful business combination

Phillip Securities says VTAC shareholders should redeem their shares at the price range of S$5 to S$5.02 apiece.

Phillip Securities: VTAC investors should vote for 17Live acquisition, fully redeem shares

The expected completion of the deal would be on Dec 8, when the SPAC will trade under the new name 17LIVE Group, if the transaction is successful.

VTAC utilises S$10.4 million of interest earned from IPO proceeds to cover listing costs, other expenses