Revelstone Capital Acquisition Corp. Cancels Special Meeting To Approve Business Combination With Set Jet
Portfolio Pulse from Benzinga Newsdesk
Revelstone Capital Acquisition Corp. (RCAC) has cancelled its special meeting initially scheduled for January 5, 2024, to approve the business combination with Set Jet, Inc. The meeting was intended to consider proposals in the definitive proxy statement/prospectus filed on December 13, 2023. The cancellation means that redemption requests for RCAC's Class A common stock will not be accepted until a new meeting date is set.
January 05, 2024 | 1:33 pm
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RCAC has cancelled the special meeting to approve the merger with Set Jet, putting the business combination on hold and not accepting redemption requests for its Class A common stock.
The cancellation of the special meeting may create uncertainty among investors regarding the future of the business combination with Set Jet. This could potentially lead to a negative short-term impact on RCAC's stock price as the market reacts to the delay and lack of clarity on the merger's progress.
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IMPORTANCE 90
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