dMY Squared Terminates Pinstripes Deal, No Fee
Ticker: DMYY · Form: 8-K · Filed: Jun 28, 2024 · CIK: 1915380
| Field | Detail |
|---|---|
| Company | Dmy Squared Technology Group, INC. (DMYY) |
| Form Type | 8-K |
| Filed Date | Jun 28, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: merger-termination, business-combination
TL;DR
dMY Squared & Pinstripes call it quits, no breakup fee. Deal dead.
AI Summary
On June 27, 2024, dMY Squared Technology Group, Inc. filed an 8-K report detailing the termination of its business combination agreement with Pinstripes Holdings, Inc. The termination was mutually agreed upon by both parties, and no termination fee will be paid by either dMY Squared Technology Group, Inc. or Pinstripes Holdings, Inc.
Why It Matters
This filing indicates the end of a planned merger, which could impact investor expectations for dMY Squared Technology Group, Inc. and its future strategic direction.
Risk Assessment
Risk Level: medium — The termination of a business combination agreement can introduce uncertainty regarding the company's growth strategy and future financial performance.
Key Players & Entities
- dMY Squared Technology Group, Inc. (company) — Registrant
- Pinstripes Holdings, Inc. (company) — Party to terminated business combination agreement
- June 27, 2024 (date) — Date of earliest event reported
FAQ
What was the nature of the agreement between dMY Squared Technology Group, Inc. and Pinstripes Holdings, Inc.?
The agreement was a business combination agreement.
What is the effective date of the termination of the agreement?
The termination was effective as of June 27, 2024.
Was a termination fee paid by either party?
No, neither dMY Squared Technology Group, Inc. nor Pinstripes Holdings, Inc. will pay a termination fee.
What is the filing date of this 8-K report?
The 8-K report was filed on June 28, 2024.
What is the SIC code for dMY Squared Technology Group, Inc.?
The SIC code is 6770, which corresponds to Blank Checks.
Filing Stats: 530 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-06-28 16:31:57
Key Financial Figures
- $0.0001 — rican Class A common stock, par value $0.0001 per share DMYY NYSE American Rede
- $11.50 — mon stock, each at an exercise price of $11.50 per share DMYY.WS NYSE American In
- $50,000 — ") caused to be deposited an additional $50,000 into the Company's trust account in con
Filing Documents
- d859372d8k.htm (8-K) — 27KB
- 0001193125-24-172329.txt ( ) — 198KB
- dmyy-20240627.xsd (EX-101.SCH) — 5KB
- dmyy-20240627_def.xml (EX-101.DEF) — 15KB
- dmyy-20240627_lab.xml (EX-101.LAB) — 25KB
- dmyy-20240627_pre.xml (EX-101.PRE) — 16KB
- d859372d8k_htm.xml (XML) — 8KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): June 27, 2024 dMY Squared Technology Group, Inc. (Exact name of registrant as specified in its charter) Massachusetts 001-41519 88-0748933 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 1180 North Town Center Drive , Suite 100 Las Vegas , Nevada 89144 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: (702) 781-4313 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant DMYY.U NYSE American Class A common stock, par value $0.0001 per share DMYY NYSE American Redeemable warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share DMYY.WS NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item8.01. Other Events On June 27, 2024, dMY Squared Technology Group, Inc. (the "Company") caused to be deposited an additional $50,000 into the Company's trust account in connection with the approval by the Company's board of directors (the "Board") of an extension of the date by which the Company has to consummate an initial business combination by an additional month, from June 29, 2024 to July 29, 2024, the sixth of 23 potential one-month extensions available to the Company. As previously disclosed, the Company's Amended and Restated Articles of Organization, as amended, provides the Company the right to extend such date up to twenty-three times for an additional one month each time to up to December 29, 2025, by resolution of the Board. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DMY SQUARED TECHNOLOGY GROUP, INC. By: /s/ Harry L. You Name: Harry L. You Title: Chief Financial Officer and Chairman Dated: June 28, 2024