Niocorp Developments Ltd (NB)

[Prudent Capitalist]

Putz: The SPAC holders voted heavily in favor of the merger deal (around 96% in favor) as did NB holders well before the date on which the SPAC holders had to make their final decision on whether to redeem or stay in and let their equity go over to NB in exchange for shares at .89. In the interim, the bank collapses roiled the markets and turmoil and fears of a meltdown ensued. I remember watching CNBC that Monday morning before the markets opened and there were many predicting a financial meltdown and problems even with some of the regional banks. It could not have come at a worse time for our deal. And, do you not think any of the major holders in GXII made it clear why they ended up redeeming after voting so heavily in favor. It is what it is at this point.