What are you talking about ? I’m
Not understanding your logic. I copy and pasted the Press Release where they corrected 3 days later that statement. “Closing” was not the correct word.
Then the deal changed and for the better 200 million $ better. Do you not see any value in that delay ?
Then it changed again as I showed you previously below that ENZC will get all business expenses paid for 30 months after the deal closes.
The SPAC agreement doesn’t start until it’s filed with the SEC which was SEPT 15th. At that point starts the 2 month countdown to the fastest SPAC agreement in history.
S4 hasn’t been submitted yet because they didn't have enough time to complete the business combination by the end of the SPAC hence the need for extension of SPAC by Barry K. To SAGA and why extend with a Vote and not give yourself Ample amount of time. Has nothing to do with ENZC and the business combination - it has to do with Barry / SAGA / and his agreement to complete a business combination within 24 months.
Read more :
The De-SPAC Timeline
After a SPAC and its target company announce their merger agreement, the first phase of the de-SPAC begins and the companies file an S-4 proxy statement with the SEC. The S-4 form provides financial information about the two parties, along with other information that shareholders may be interested in, such as the history of the target company, information about its industry and the backgrounds of its founders and executives. Sometimes the SEC will ask the merger partners to clarify certain pieces of information in the S-4. This first phase usually takes between two to four weeks to complete.
Once the S-4 is on file at the SEC, the merger parties determine the date that shareholders will vote on the merger. A proxy solicitor is hired and begins the process of contacting shareholders to inform them of the upcoming vote and to encourage them to participate. This second phase generally takes another two weeks to complete.
In the final phase, which lasts about two weeks, the target company holds a road show to meet with the SPAC’s shareholders to sell them on the benefits of the merger. If the transaction goes through, the parties will file another document with the SEC, which is called an 8-K. The 8-K form announces the conclusion of the deal, at which point the target company becomes the surviving entity in the merger.
From beginning to end, the whole de-SPAC process may take as little as six to eight weeks to complete, in a best-case scenario. The process can take up to several more months, however, depending on the length of the SEC’s review of the necessary filings.
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