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PLMI DA with Veea. [https://www.globenewswire.com/news-release/2023/11/28/2786707/0/en/Veea-to-Become-Publicly-Traded-Company-via-proposed-Business-Combination-with-Plum-Acquisition-Corp-I.html](https://www.globenewswire.com/news-release/2023/11/28/2786707/0/en/Veea-to-Become-Publicly-Traded-Company-via-proposed-Business-Combination-with-Plum-Acquisition-Corp-I.html)
[Veea, Inc. and Plum Acquisition Corp. I Announce Letter of Intent for a Business Combination](https://www.globenewswire.com/news-release/2023/11/13/2778666/0/en/Veea-Inc-and-Plum-Acquisition-Corp-I-Announce-Letter-of-Intent-for-a-Business-Combination.html) \- PLMI PLMIW
Planned non-redemption agreement for $BFAC: [https://www.sec.gov/ix?doc=/Archives/edgar/data/0001880441/000182912623006654/batteryfuture\_8k.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001880441/000182912623006654/batteryfuture_8k.htm) ​ Probably good for them since they expect to axe the massive monthly trust addition every time they extend, opting for the $PLMI stlye free extensions instead.
What in the PLMI is going on here
Plum Acquisition Corp. I ( PLMI PLMIW ) today filed a [supplement to their proxy](https://www.sec.gov/Archives/edgar/data/1840317/000121390023075406/ea184943-defa14a_plumacq.htm) for the September 13 shareholder meeting to vote to extend rom September 18, 2023 to December 18, 2023 and then monthly until June 18, 2024. They are removing proposal number 2 from the items to be voted on. Item 2 was the proposal to "compulsorily redeem up to 3,228,218 Public Shares" in order to reduce the trust to $20 million. "Although the Board believes that Proposal 2 was appropriately proposed by Plum, upon review and careful **consideration of feedback from shareholders** and other relevant factors, the Board has determined to withdraw Proposal 2 from shareholder consideration for the upcoming Meeting. Notwithstanding the foregoing, the Board reserves the right to revisit the possibility of reducing the amount held in trust at any point in the future." Sounds like someone may have offered PLMI the opportunity to discuss the idea of compulsorily redeeming their shares with their attorney.
Plum Acquisition Corp. I ( PLMI PLMIW ), after [claiming they were liquidating](https://www.sec.gov/Archives/edgar/data/1840317/000119312523167411/d469870d8k.htm) one day and saying "Haha, [just joking](https://www.sec.gov/Archives/edgar/data/1840317/000119312523168508/d520712d8k.htm)" the very next day, have apparently decided to see just how many shareholders they can enrage. PLMI filed a [preliminary proxy](https://www.sec.gov/Archives/edgar/data/1840317/000110465923090622/tm2323480d1_pre14a.htm) today after market close to extend until June 2024, with the following proposal: "Proposal No. 2 — Trust Reduction Proposal — To authorize, by way of special resolution, a reduction in the Trust Account (as defined below) to an amount equal to $ (the “Trust Reduction”), **which amount will be used to compulsorily redeem up to Public Shares at a per-share price**, payable in cash, equal to the aggregate amount then on deposit in the Trust Account as of two business days prior to the redemption date, including interest (which interest shall be net of taxes payable), divided by the number of then outstanding public shares;" After pulling the original stunt, screwing over a few warrant holders, they now apparently plan to ***compulsorily redeem*** common stock held by public shareholders. PLMI already can extend until March 2024, but is paying 4 cents per share per month for each extension. PLMI wants to pay $0.0225 per share per month instead, and they don't want to have to pay that for very many shares. 🐍🐍🐍
Plum Acquisition Corp. I ( PLMI PLMIW ) 8-K filed today. "[As initially reported on a Current Report on Form 8-K filed June 15, 2023](https://www.sec.gov/Archives/edgar/data/1840317/000110465923083865/tm2321941d1_8k.htm#:~:text=As%20initially%20reported%20on%20a%20Current%20Report%20on%20Form%C2%A08%2DK), the Company was approached with an opportunity to explore a business combination with a current operating company and decided to extend the Termination Date for another month beyond June 18, 2023 to July 18, 2023. The Company continues to explore **this and** ***other*** **opportunitie**s for a business combination. Accordingly, **the Company elected, by resolution of the board of directors, to extend the Termination Date for another month beyond July 18, 2023, to provide Plum an additional thirty (30) days to properly investigate and evaluate** ***this and other*** **opportunities** for a business combination transaction. Accordingly, Plum will now have until August 18, 2023 to consummate a business combination transaction." Now those SOBs say they have ***even more*** opportunities. No, that wasn't premature, announcing they were liquidating the day before they discovered all of these other opportunities, 🤬🤬🤬
So literally last night another company called them and said hey you can take us public, we’ll do anything! But PLMI only has 30 days to discuss, negotiate, and consummate the business combination? Seems unlikely but it’s SPAC world…
[Plum Acquisition Corp. I "approached with an opportunity to explore a business combination with another operating company"; Will Now Extend until July 18 to Explore Opportunity](https://www.sec.gov/Archives/edgar/data/1840317/000119312523168508/d520712d8k.htm) \- PLMI PLMIW Ain't THAT some 💩 "Subsequent to the issuance of the June 15th 8-K, Plum was approached with an opportunity to explore a business combination with another operating company. The Board of Directors of Plum promptly met and discussed the merits of this opportunity, and thereafter decided to extend the deadline for Plum to consummate a business combination transaction for another month beyond June 18, 203, to provide Plum an additional thirty (30) days to properly investigate and evaluate this and other opportunities for a business combination transaction. Accordingly, Plum will now have until July 18, 2023 to consummate a business combination transaction."
Anyone have thoughts on QS vs SLDP vs PLMI?
PLMI DA with Sakuu, early stage battery company.
PLMI filed a definitive 14a after hours, for an extension vote in March.
I am heavy in many of those. Most surprised ACQR has fallen this far given Steven McLaughlin is probably the most connected guy in fintech. That warrant was 2x this price not too long ago. FACT, PLMI and that are some of.my biggest positions. If you catch the bottom 20th percentile and get a median DA target for the split, your upside is drastically higher. Next time I'll try to include percentile data.
Like REVH a lot! PLMI is another 1/5 I like in the same price range. 1/4s I like PCPC (common is 25, not 10), ENPC (both have investor friendlier structures) and I like FACT as well. 1/3s I like ETAC and PIAI, tons of choices at ~.5
PLMI checking in. Will be waiting for UTAA and TGAA to split.
There's still time to join Plum gang (PLMI).
It already kinda is PLMI... Plum Acquisitions My notes: - SPAC play: $300m Software - IPO: 03/15/2021 with 1/5 warrant - UW Goldman Sachs - Executive Chairwoman and director Ursula M. Burns: 1. The first & still only African American woman to lead an S&P 500 company 2. Previous Chairman and CEO of VEON Ltd. (2018-2020) 3. Previous CEO of Xerox (2010-2016) 4. Current member of the board of directors for Exxon Mobil, Nestlé, Uber, Ford Foundation, Mayo Clinic, MIT, Teneo, Waystar & IHS Towers 5. Under President Barack Obama, led the White House national program on STEM & chair of the President’s Export Council 2021 10-Q's 1st Quarter (inception) Formation and operating expenses: $ 89,565 Accrued offering costs and expenses: $ 993,415 2nd Quarter Formation and operating expenses: $ 882,896 Accrued offering costs and expenses: $ 103,027 3rd Quarter Formation and operating expenses: $ 481,907 Accrued offering costs and expenses: $ 100,140
I am a bit behind due the delayed filings from Q3 10-Q's, still waiting on ERES, but here's a few more of what I was waiting on: **BWAC** 1st Quarter * Operating & Formation Costs: $ 155,948 * Accrued Expenses: $ 144,699 2nd Quarter * Operating & Formation Costs: $ 257,158 * Accrued Expenses: $ 179,148 3rd Quarter * Operating & Formation Costs: $ 735,695 * Accrued Expenses: $ 673,307 **CPUH** 1st Quarter * G&A Expenses: $ 343,735 * Accrued Expenses: $ 442,289 2nd Quarter * G&A Expenses: $ 663,775 * Accrued Expenses: $ 546,113 3rd Quarter * G&A Expenses: $ 419,772 * Accrued Expenses: $ 552,893 **COOL** 1st Quarter * Accrued Expenses: $ 105,000 * Operating and Formation Costs: $ 498,215 2nd Quarter * Accrued Expenses: $ 120,030 * Operating and Formation Costs: $ 394,973 3rd Quarter * Accrued Expenses: $ 112,530 * Operating and Formation Costs: $ 479,586 **PLMI** 1st Quarter (inception) * Formation and operating expenses: $ 89,565 * Accrued offering costs and expenses: $ 993,415 2nd Quarter * Formation and operating expenses: $ 882,896 * Accrued offering costs and expenses: $ 103,027 3rd Quarter * Formation and operating expenses: $ 481,907 * Accrued offering costs and expenses: $ 100,140
Exactly. I stick only with teams that have the connections and reputation to attract good targets and PIPE investors, and stay diversified across a lot of teams so one or two liqudations wouldn't be the end of the world. My biggest team (FACT) has the ex-CEO of Credit Suisse as it's main guy. I just sold out of PIPP with the ex-CEO of Merrill Lynch. MSDA, Michael Dell's SPAC, is one of my largest holdings. CPAR and PLMI are also very large and are just completely stacked top to bottom with reputable business leaders who would add value to any board. I almost never play the cheapo teams with no notable investors or institutional backing outside of some gambling money.
You asked for the "best", here's some of my notes on a couple... but honestly waiting on more Q3 10-Q's to be adding more to my positions, but comfortable holding these and currently still like them: ASZ_W (Even with the mess that came out of BFT/PSFE, especially after this morning - SPAC play: $1.2b trust) - Target: Fin/InfoTech - IPO: 02/25/2021 with 1/4 warrant - 6th SPAC by veteran Bill Foley HERA_W - SPAC play: $800m trust - Target: FinTech - IPO: 03/03/2021 with 1/4 warrant - Betsy and Daniel Cohen 9th SPAC - Betsy was the founder & current CEO of Bancorp Inc. - Current: EToro & Payoneer SPAC's - Previous: Paya, International Money Express & Card Connect - Multiple new SPAC's filed for PLMI_W - SPAC play: $300m trust - Target: Software - IPO: 03/15/2021 with 1/5 warrant - UW Goldman Sachs - Executive Chairwoman and director Ursula M. Burns: 1. The first & still only African American woman to lead an S&P 500 company 2. Previous Chairman and CEO of VEON Ltd. (2018-2020) 3. Previous CEO of Xerox (2010-2016) 4. Current member of the board of directors for Exxon Mobil, Nestlé, Uber, Ford Foundation, Mayo Clinic, MIT, Teneo, Waystar & IHS Towers 5. Under President Barack Obama, led the White House national program on STEM & chair of the President’s Export Council - Quarterly SEC Form 10-Q filed 06/04/21 showing an increase of 950k in accrued expenses
I won’t pretend I can pick incoming DAs PLMI IPOd in March, over 6 months old is plenty old to be DA ready imo
PLMI kinda young isn’t it? Why you thinking that’ll DA near term?
Now that the pre-DA'S are taking off again are there any good ones that might have been overlooked still below $1? Currently holding LFTR PLMI HAAC ETAC GPAC CVII CRHC GIIX
Hmm debating with myself if it's time to start getting back into pre-DA warrants that are still at/close to all time lows with strong teams like PRPB, LFTR, PLMI, EQD....anyone else have an opinion? Or maybe I should be targeting these momentum plays like BKKT, etc.
Well, over 1/3 have already DA'd (including SNII today) or have great rumors, most of the rest are low dilution (1/3 or smaller splits in units) warrants for top tier vet sponsors (Klein, Gores, Cohen, Chu, Fortress, etc.), elite specialists in their fields like ACQR or LCAA, or loaded teams like CPAR, NVSA and PLMI, with cost bases usually sub .90. I'll start worrying about mid-2023 liquidations and crap deals-for-deals-sake in mid-2022. Most of my SPACs IPOd this year, so that is still a long ways away. For now, if you have time and patience to get good entries, there is no point to not be diversified with so many high quality teams trading so far below post merger averages, since we don't know which of the lot will merge with the top 10 percent of targets. But I probably will cull back quite a bit just because it's pretty damn time consuming to manage this many.
PLMI is at a good price as well. Around 6-7% off it’s lows.
HAAC JWSM I really like PLMI
HAAC, FVT, PCPC and PLMI warrants has hurt me the most; in that order.
I only got 500 filled at .99, tight fists on those holders! Back on the PLMI bid lol.