SDCL EDGE Acquisition Deploys First of 4 Extensions to Work on Cunova Deal | SPAC Feed

SDCL EDGE Acquisition in an 8-K said its board approved using the first of four monthly deadline extensions, from March 2 to April 2, as the SPAC works on a deal with Cunova, a unit of Italian copper and copper alloy producer KME.

KME, which has a 45% stake in Cunova, signed the business combination agreement with German private equity fund Paragon, which owns the remaining 55% of the company, as well as nyse-listed SDCL Edge.

The plan is for KME to sell its aerospace business to Cunova and hold around 60% of the combined listed company, while Paragon will fully exit its investment. SDCL EDGE will take the combined company to the New York Stock Exchange.

The pro-forma enterprise value of the combined company is estimated to be around $736 million, including a net debt of $289 million, and an equity value of about $447 million.

The closing of the transaction is expected in the second quarter. Read more.

Source: SDCL EDGE Acquisition Deploys First of 4 Extensions to Work on Cunova Deal

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• Source: https://spacfeed.com/sdcl-edge-acquisition-deploys-first-of-4-extensions-to-work-on-cunova-deal