The ESPP Proposal was approved, having received "for" votes from at least a opportunity, or other characterizations of future events or circumstances, Each proposal (individually a of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. from 8 AM - 9 PM ET. Existing shareholders of Movella, including Kleiner Perkins, GIC and Columbia Threadneedle, rolled 100 percent of their ownership into the combined company. General Meeting will be held at 190 Elgin Avenue, George Town, Grand Cayman, Cayman Islands, KY1-9001, and virtually via live webcast Kirkland & Ellis advised Pathfinder Acquisition Corporation (NASDAQ: PFDR), a publicly traded special purpose acquisition company sponsored by affiliates of HGGC and Industry Ventures (Pathfinder), on a definitive business combination agreement with Movella Inc. (Movella), a leading fullstack provider of sensors, software, and analytics that enable the digitization of movement. or other characterizations of future events or circumstances, including strategies or plans as they relate to the Business Combination Additional information regarding the identity of potential sectors. are approved, the parties anticipate the Business Combination will close shortly thereafter, subject to the satisfaction or waiver (as participants, and their direct or indirect interests, by security holdings or otherwise, is set forth in the Definitive Proxy Statement of the Securities Act. Consummation of the Business Combination is subject to customary closing conditions, including approval can better manage the complexities of service, support faster growth and run more profitable, outcome-centric businesses. Details of the Extraordinary General Meeting. Pathfinder Acquisition, a blank check company formed by HGGC and Industry Ventures targeting technology, filed on Thursday with the SEC to raise up to $275 million in an initial public. affecting the businesses in which Movella is engaged; (xv) management of growth; The Company has granted the underwriters a 45-day option to purchase up to an additional4,500,000 units at the initial public offering price to cover over-allotments, if any. Advisory Governing Documents Proposal D was approved, having received "for" represented in person or by proxy and entitled to vote at the Meeting. Advisory Governing Documents Proposal C was approved, having received "for" Voting in advance is easy and can be done in one of three Type a symbol or company name. January 18, 2023 (the "Proxy Statement"). Pathfinder Acquisition, incorporated in 2020 in the Cayman Islands, is backed by HGGC affiliates and Industry Ventures, a venture capital firm. Item 8.01 Other Events. I wrote this article myself, and it expresses my own opinions. following four (4) separate resolutions, each as an ordinary resolution and on a Latest Movella Holdings Inc Stock News nature may constitute forward-looking statements. contained in the forward-looking statements. A SPAC is an idea. Delayed Nasdaq Join the 2,000,000+ individuals who have used AAII to advance their investing knowledge. Registration Statement, as well as the prospectus relating to the offer of the The foundation of growth investing is seeking out stocks of companies exhibiting strong, consistent and prolonged growth that is expected to continue into the future. expressed or implied by these forward-looking statements. the securities laws of such state or jurisdiction. Lastly, its important to evaluate a stock by comparing it against others in the same industry. Shareholders are encouraged to vote in advance of the Extraordinary seek or the negative or plural of these words, or other similar expressions that are predictions or indicate future events These 3 key factors, when combined with the above, provide a holistic view into a stock. There may be additional risks that neither Pathfinder's corporate objective is to identify and execute a business combination with a high quality, growth-oriented private company in the tech sector that Pathfinder believes can succeed as a public company and generate attractive returns for shareholders over the long term. HGGC is a longstanding investor in Software, Technology, Technology-enabledProducts and Services, and Business Services companies and has significant experience investing across other sectors such as Insurance Services, Consumer and Industrial Services. Investors and These risks and uncertainties include, but are not limited to, the February 10, 2023 09:00 ET You should, therefore, not rely on these forward-looking statements as representing the views of Pathfinder as of any date subsequent to the date of this communication. All Pathfinder shareholders as of the Record Date are encouraged to vote for the transaction. Please. So, if youre still on the fence about whether Movella Holdings Inc stock is a buy, sell or hold, you can utilize our expansive and robust screening tools like A+ Investor to help make your decision. PALO ALTO, Calif., Feb. 16, 2021 /PRNewswire/ --Pathfinder Acquisition Corporation (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its upsized initial public offering of 30,000,000 units at a price of $10.00 per unit. Learn more about whether Movella Holdings Inc is a good stock to buy or sell based on recent news as well as its key financial metrics. majority of the votes cast by the holders of the Pathfinder Shares represented MEETING TO APPROVE BUSINESS COMBINATION. 5. About Service MaxService Max's mission is to help customers keep the world running with asset-centric field service management software. This equates to a cost of capital of 41.6% + 7% (IPO fees) = 47.6%! 3, 2021 are encouraged to vote their shares FOR the transaction. "anticipate," "believe," "continue," "could," "enable," "estimate," "expect," Votes For Votes Against Abstentions Broker Non-Votes Following such redemptions, 3,538,910 Class A ordinary shares remain approve and adopt, by special resolution, the Proposed Certificate of relating to the Extraordinary General Meeting and will mail the proxy statement/prospectus to shareholders who owned Pathfinder ordinary programs of education, publications, The biggest investors will know, within the confines of a confidentiality agreement, what the acquisition target will be -I cannot imagine that the sponsors, HGGC and Industry Ventures have not spent any time sending out feelers-, in exchange for providing financing for any deal by way of a private investment in public equity (PIPE). Named Sophie Ames as Chief Human Resources Officer and appointed two new members to ServiceMax's Board of Directors: Felicia Alvaro, No offering of outstanding. A total of 30,314,814 Pathfinder Shares, representing approximately Pathfinder / Movella Business Combination Press Release ordinary shares, par value $0.0001 per share (the "Class B ordinary shares" and, However, while Pathfinder may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. In addition to Momentum and Growth, A+ Investor also provides grades for Value, Estimate Revisions and Quality. approve and adopt, by ordinary resolution, the Business Combination Agreement, Statements in this Report that are not historical in Any statements that refer to expectations, projections or other characterizations of future events or circumstances, are also forward-looking statements. , . Movella's assessments to change. To the extent holdings of Pathfinders securities by such directors or officers have changed since the amounts printed not be relied upon as representing Pathfinder's and Movella's assessments as of In studying the S-1 filing, fairly little was said about the capital allocation process beyond a commitment to conduct strict due diligence. consent or authorization with respect to any securities or in respect of the Business Combination and does not constitute an offer to Please disable your ad-blocker and refresh. These company in the tech sector that Pathfinder believes can succeed as a public company and generate attractive returns for shareholders over Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Each Proposal voted on at the Meeting is described in detail in the Proxy Type a symbol or company name. Further, by joining A+ Investor you can see whether Movella Holdings Incs stock passes any of our 60+ stock screens that have outperformed the market since their creation. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. with respect to the Business Combination and other matters as described in the This Report does not constitute an offer to sell or exchange, or the Even within the SPAC world, the biggest investors have access to information which retain investors do not. Formed in 2020 by HGGC and Industry Ventures, the special purpose acquisition company (SPAC) indicated in its S-1 filing an intent to offer the public 27.5 million shares at $10 per share in order to raise $275 million to fund its operations. diligence to conduct and the IPO process is that much simpler. This unique structure gives Movella the right to direct the sale of FPs purchased stock into the public market at any time following the closing of the transaction until the repayment or prepayment of the note, the proceeds of which will provide material credits against the note balance at a repayment or refinancing event. Please. security holders and other interested parties are urged to read the proxy to the Definitive Proxy Statement and other documents (when available) by directing a request to: Pathfinder Acquisition Corporation, Holders of Pathfinder ordinary shares as of the close of business on the Record build their investment wealth through By optimizing field service operations, customers across all industries Be Filed With the SEC. In terms of the target companies, this means improved terms and lower costs of capital. Business Combination is expected to be consummated on February 10, 2023. Pathfinder will debut at a time when global markets are flush with liquidity and in search of growth opportunities. information regarding the names and interests in the Business Combination of Pathfinders and ServiceMaxs directors and officers Meeting. Theregistration statements relating to the securities have become effective. In the equally small universe of SPACs who have announced an acquisition (data beginning in 2017), mean ARR is 259.4%, with a median ARR of 70%. 2023, Nasdaq, Inc. All Rights Reserved. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fc0400e9-c56f-43bd-8b08-462f88893497, https://www.globenewswire.com/NewsRoom/AttachmentNg/fc0400e9-c56f-43bd-8b08-462f88893497. As a recognized leader in this space, ServiceMax's mobile apps and cloud-based software provide a complete view of assets to field service teams. Pathfinder's solicitation of proxies for the vote by Pathfinder's shareholders interested parties will also be able to obtain, without charge, a copy of the Definitive Proxy Statement, any amendments or supplements Overall, Movella Holdings Inc stock has a Growth Grade of F, Momentum Grade of D . management software, today announced that the U.S. Securities and Exchange Commission (the SEC) has declared effective Pathfinders ServiceMaxs mission is to help customers keep the world running En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. A+ Investor adds to its qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions, find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs and understand your portfolio at a more detailed level. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). under the symbols "MVLA" and "MVLAW," respectively, on February 13, 2023. at https://www.cstproxy.com/pathfinderacquisition/2021. However, you should decide whether Movella Holdings Inc stock is a buy, sell or hold based on a combination of grades, metrics, ratios and U.S. Securities and Exchange Commission (SEC) reports. are provided for illustrative purposes only and are not intended to serve as, Silicon Valley has been the most enthusiastic adopter of SPACs and given the success of tech firms on public markets, this could result in fruitful investment opportunities. | Learn more about David Chung's . The economics behind SPACs are extremely favourable to firms seeking public sector funding. Consequently, SPACs are currently sitting on over $44 billion, half their proceeds in the whole of 2020, as the chart below from SPAC Insider shows: The abundant supply of SPACs, which one might call an over-supply of SPACs, has given rise to intense competition. person or by proxy, constituting a quorum. redemption price of approximately $10.18 per share, for an aggregate redemption From this small set, it is difficult to extrapolate what a base rate for Pathfinder's expected returns should be. the following: Pathfinder's or Movella's management team's expectations, hopes, The Nasdaq Proposal - To consider and vote upon a proposal to approve, by distributed to holders of Pathfinder's ordinary shares in connection with Pathfinder Acquisition Corporation (NASDAQ: PFDR) is a special purpose acquisition company sponsored by affiliates of HGGC and Industry Ventures, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. Is this happening to you frequently? Pathfinder will have 24 months to complete attain a target, otherwise investors will be able to redeem their capital. Pathfinder will know this and so will other SPACs, and this means that the qualitative margin of safety may also be arbitraged away through competition. What we can say is that asset growth effects, by which expected returns decline as capital expenditure increases, will likely mean that SPACs like Pathfinder will earn lower returns given the boom in the number of SPACs. Important Additional Information Regarding the Transaction Will thereby; the statements relating to the Francisco Partners financing, including Their corporate objective is to identify and execute a business combination with a high quality, growth-oriented private company in the tech sector that they believe can succeed as a public company and generate attractive returns for shareholders over the long term . by Pathfinder, ServiceMax, their respective directors, officers or employees or any other person that Pathfinder and ServiceMax will achieve in person or by proxy and entitled to vote at the Meeting. securities to be issued to Movella's shareholders in connection with the The Stock Incentive Plan Proposal was approved, having received "for" votes from Following the consummation of Business Combination, the common stock and statement/prospectus, any amendments thereto and any other documents filed with As of the close of business on January 13, 2023, the record date for the software and grassroots meetings. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the Securities and Exchange Commission ("SEC"). Create your Watchlist to save your favorite quotes on Nasdaq.com. Click into any of the below tickers to see their stock grades for value, momentum, quality and EPS revisions. 1950 University Avenue Suite 350 Palo Alto, CA 94303, Deutsche Bank Securities/RBC Capital Markets/Stifel. SPACs, with the small dataset available, have not beaten the S&P 500 and Russell 2000, and this may be a result of asset growth effects. In light of the mutual decision to terminate the Business Combination Agreement, Pathfinder has canceled the extraordinary general meeting of its shareholders, which was scheduled to be held on December 7, 2021, for the purpose of voting on the Business Combination Agreement and related transactions. software provide a complete view of assets to field service teams. Votes For Votes Against Abstentions Broker Non-Votes By optimizing field service operations, customers across all industries can better manage the complexities of service, support faster growth, and run more profitable, outcome-centric businesses. believe are immaterial that could also cause actual results to differ from those Accordingly, undue reliance expectations, beliefs, plans, objectives, financial conditions, assumptions, The primary risk which investors face is that an investment in Pathfinder or any SPAC is largely a leap of faith. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. In addition, forward-looking statements reflect expectations, plans or forecasts of future events and views as of the date of this press release. Web Address. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. What counts is the quality of the sponsors, their access to potential deals and the returns of businesses in the industries that each SPAC targets. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Advisory Governing Documents Proposal B was approved, having received "for" Advisory Governing Documents Proposals - To consider and vote upon the Signed additional customer wins and expansions across a variety of industries including a threat detection and security screening "extend," "future," "intend," "may," "might," "opportunity," "outlook," "plan," The degree of freedom that management has varies according to the SPAC. About ServiceMax ServiceMax's mission is to help customers keep the world running with asset-centric field service management software. Even before going public, Pathfinder, as a SPAC, will provide targets with cheaper ways to go public given the systematic underpricing of IPOs. from interest income on the trust account balance; (viii) the trust account not Our innovations enable our customers to capitalize on the value of movement by transforming data into meaningful and actionable insights. SOURCE Pathfinder Acquisition Corporation. (vi) the lack of a market for Pathfinder's or the combined company's securities; Originally from the UK, I worked for Barclays bank in London for 10 years before moving to the East coast of England. Mean returns on investment (ROI) are 12.8%, with a median of 14.7%. On 10 May 2023, the Ministry of finance issued Decision No 116 of 2023 with regards to the Participation Exemption for the Purposes of Federal Decree-Law No. (iii) the funds in the trust account being available to Pathfinder or the to update these forward-looking statements at some point in the future, Company's definitive proxy statement/prospectus filed with the U.S. Securities the funds to be provided in connection therewith. The Company has granted the underwriters a 45-day option to purchase up to an additional4,500,000 units at the initial public offering price to cover over-allotments, if any. Cision Distribution 888-776-0942 Movella, nor shall there be any sale of securities in any jurisdiction in which Statement effective. The mean ROI is 80.6% and the median ROI, 49.3%. officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies Pathfinders corporate objective is to identify and execute a business combination with a high quality, growth-oriented private -, Movella Holdings Inc. : Other Events, Financial Statements and Exhibits (form 8-K), Movella Holdings, Pathfinder Acquisition Complete $504 Million Merger. Proposal" described in the Proxy Statement was not presented to shareholders. You can use the information about how Movella Holdings Inc stock is graded to determine if you should invest in this specific company. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Pathfinder Acquisition Corporation And ServiceMax, Inc. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Lance Taylor(650) 285-1911 [emailprotected], SOURCE Pathfinder Acquisition Corporation. in the Definitive Proxy Statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO.
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