Melar Shares Jump 73% After Hours as Everli SPAC Deal Wins Approval
MACI sits 79% above its 52-week low of $9.06 on elevated volume (32× avg).
Summary
Melar shares jumped 73% to $19.00 after the closing bell once the company detailed in a securities filing that shareholders approved its business combination with Everli Global. The vote happened at Thursday's shareholder meeting and the result was announced after Thursday's close; the stock had closed down 3.2% at $11.00 and was up 3.5% for the year. The approval clears the final shareholder hurdle for taking Everli public, following the SEC declaring the registration statement effective on October 6. The 8-K filed Friday also disclosed that 3,852,564 Class A shares were redeemed, which shrinks the cash the combined company takes to the market — a key detail given Everli's $56.1M of debt and loan defaults laid out in the amended S-4. Watch the closing mechanics and the post-redemption trust balance, since the deal's cash cushion is now materially thinner than the $180 million headline valuation implies.
At the time of this announcement, MACI was trading at $16.20 on NASDAQ in the Finance sector, with a market capitalization of approximately $105M. The 52-week trading range was $9.06 to $14.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.