dMY Know-how Group, Inc. VI Announces Extension of Expiration Date of Tender Supply | Organization
Doris Ratliff
10 min read
LAS VEGAS–(Business WIRE)–Feb 22, 2023–
dMY Technological know-how Team, Inc. VI (NYSE: DMYS) (the “Company” or “dMY VI”) these days declared that it has extended the expiration date of its previously introduced tender present (the “Tender Offer”) to purchase up to 24,150,000 of its shares of Course A common stock, par price $.0001 per share (the “Common Stock”), at a buy cost equivalent to the quotient received by dividing: (i) the combination amount on deposit in the Believe in Account in the beginning set up to hold the proceeds of the original public presenting (“IPO”) of dMY VI (the “Trust Account”), as of two organization times prior to the consummation of the initial Enterprise Combination (as outlined herein), which includes curiosity not beforehand launched to dMY VI to fork out its taxes, by (ii) the complete variety of then superb shares of Typical Inventory (the “Purchase Price”). The supply is getting designed in link with the Company’s beforehand announced business combination (the “Business Combination”) with Rain Enhancement Systems, Inc. (“Rainwater Tech”), a Delaware firm. As amended, the Tender Present will now expire at 5:00 p.m. New York Town time, on Friday, March 3, 2023, except additional extended or previously terminated.
Continental Stock Transfer & Have faith in Enterprise, the depositary for the Tender Present, has suggested dMY VI that, as of 11:00 a.m., New York Metropolis time, on Tuesday, February 21, 2023, an combination of 327,361 shares of Typical Inventory were being adequately tendered and not effectively withdrawn. dMY VI shareholders who have by now tendered their Popular Stock do not want to re-tender their shares or choose any other action as a result of the extension of the expiration date of the Tender Give. dMY VI shareholders may withdraw shares they have formerly tendered at any time prior to the prolonged expiration day of the Tender Give.
Full conditions and problems of the Tender Give can be found in the provide to order dated January 26, 2023 (the “Offer to Purchase”), the associated letter of transmittal (the “Letter of Transmittal”) and specified other components contained in the Company’s tender offer you statement on Timetable TO at first submitted with the U.S. Securities and Trade Commission (“SEC”) on December 30, 2022, as even further amended and supplemented, and accessible at www.sec.gov. Except as described in this information release, the conditions of the Tender Offer you stay the exact as established forth in the Supply to Invest in and in the associated Letter of Transmittal.
Copies of the Give to Buy, the relevant Letter of Transmittal and other resources similar to the Tender Offer you could be acquired for free from the information and facts agent, Morrow Sodali LLC, at +1 (800) 662-5200. Banking companies and brokers may perhaps get in touch with the facts agent at +1 (203) 658-9400.
About dMY Technology Group, Inc. VI
dMY Technologies Group, Inc. VI is a blank verify company integrated in Delaware on Oct 5, 2021, whose business enterprise purpose is to result a merger, funds stock exchange, asset acquisition, stock buy, reorganization or similar business combination with one particular or more businesses. Led by Main Govt Officer Niccolo de Masi and Chairman Harry You, dMY VI consummated the IPO on NYSE on October 5, 2021, elevating aggregate gross proceeds of $241,500,000.
Essential Legal Details
The description contained herein is neither an give to acquire nor a solicitation of an provide to offer securities of the Business. The Enterprise has filed a tender present statement on Agenda TO containing an offer you to purchase, type of letter of transmittal and other documents relating to the Tender Offer you (the “Securities Legislation Disclosure Documents”). These files include important data about the Tender Offer you that ought to be go through very carefully and regarded ahead of any choice is built with regard to the Tender Offer. These products will be manufactured offered to the shareholders of the Business at no expense to them. In addition, these components (and all other documents filed by the Organization with SEC are, and will be, readily available at no cost from the SEC by means of its web site at www.sec.gov. Shareholders could also get no cost copies of the files filed with the SEC by the Organization by directing a ask for to Morrow Sodali LLC, as Details Agent for the Tender Provide, by telephone at: +1 (800) 662-5200 (toll-free, people today), +1 (203) 658-9400 (banking institutions and brokers) or by electronic mail at: [email protected].
This press release has “forward on the lookout statements.” Ahead-on the lookout statements include things like, but are not constrained to, statements relating to our or our management team’s anticipations, hopes, beliefs, intentions or methods about the long term. In addition, any statements that refer to projections, forecasts or other characterizations of long run gatherings or conditions, which include any fundamental assumptions, are forward-wanting statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may possibly discover forward-seeking statements, but the absence of these words does not indicate that a assertion is not forward-looking. These statements are not historic points but in its place represent only the Company’s belief pertaining to upcoming success, lots of of which, by their character are inherently uncertain and outside the house of the Company’s management. Actual effects might vary, probably materially, from individuals anticipated in these ahead searching statements. The Organization undertakes no obligation to update these statements for revisions or alterations soon after the day of this release, apart from as demanded by law.
The threats and uncertainties contain, but are not constrained to: potential operating or monetary outcomes adjustments in domestic and overseas organization, current market, economical, political, and authorized ailments the incapability of the get-togethers to productively or well timed consummate the proposed organization mix, which include the danger that any regulatory approvals are not obtained, are delayed or are subject to unanticipated situations that could adversely influence the mixed organization or the anticipated positive aspects of the proposed company combination failure to realize the anticipated advantages of the proposed organization mixture challenges related to the functionality of Rainwater Tech’s future technological know-how or organization and the timing of expected enterprise or economical milestones the amount of redemption requests created by dMY VI’s stockholders the means of dMY VI or Rainwater Tech to challenge equity or equity-connected securities or get financial debt financing in relationship with the proposed organization mixture or in the long run if the proposed company combination’s advantages do not fulfill the anticipations of investors or securities analysts, the market place selling price of dMY VI’s securities or, next the closing, the blended entity’s securities, could decline predicted positive aspects of the business enterprise mix and subsequent the consummation of the proposed enterprise mixture, the blended business will incur sizeable improved costs and administrative burdens as a community firm, which could negatively influence its enterprise, economic ailment and outcomes of functions.
Additional challenges linked to dMY VI and Rainwater Tech incorporate, amid many others:
• Rainwater Tech can deliver no assurance of the performance and achievement of ionization rainfall era technological innovation in expanding precipitation
• Rainwater Tech has no running heritage or revenues, which helps make it complicated to forecast its potential success of operations
• The execution of Rainwater Tech’s company product, which includes technology or profitability of its solutions and providers, is not nevertheless verified
• The rain generation industry is in its early levels and is volatile, and if it does not establish, if it develops slower than Rainwater Tech expects, if it develops in a way that does not require use of Rainwater Tech’s expert services, if it encounters adverse publicity or if Rainwater Tech’s solution does not push business engagement, the advancement of its company will be harmed
• Rainwater Tech has not nonetheless verified its ability to produce and put into action new systems, as very well as the capability to get hold of and retain mental assets protections for these kinds of systems
• A significant part of Rainwater Tech’s technology is derived from public-resource mental property and as a result Rainwater Tech may perhaps facial area elevated level of competition
• Even if Rainwater Tech is thriving in acquiring rainfall technology systems/know-how and executing its method, other competitors in the market could attain technological breakthroughs which render Rainwater Tech’s technologies out of date or inferior to other solutions
• If Rainwater Tech’s platform fails to present a broad, tested advantage in rainfall technology, its business enterprise, fiscal affliction and potential potential customers could be harmed
• Rainwater Tech’s running and financial outcomes depends upon assumptions and analyses made by third-celebration trials. If these assumptions or analyses demonstrate to be incorrect, Rainwater Tech’s true running final results may possibly be materially diverse from its forecasted effects
• Rainwater Tech’s estimates of industry chance and forecasts of earnings generation and sector expansion, together with estimates of market chance and the capacity to meet the source and demand wants of our customers, might demonstrate to be inaccurate, and even if the marketplace in which it operates achieves the forecasted progress, Rainwater Tech’s small business could are unsuccessful to grow at similar charges, if at all
• Rainwater Tech could be not able to correctly manufacture its items or scale up production of its merchandise in ample amount and good quality, in a well timed or cost-helpful fashion, or at all. Unforeseen challenges involved with scaling up and developing rainfall technology programs at commercially viable degrees could negatively effect Rainwater Tech’s financial issue and benefits of functions
• Rainwater Tech could undergo disruptions, outages, defects and other efficiency and good quality issues with its rainfall generation units or the infrastructure on which it depends
• Source chain challenges, such as a shortage of satisfactory provide or producing potential for its systems, could have an adverse influence on its enterprise and running benefits
• If Rainwater Tech can not correctly execute on its strategy, such as in response to transforming consumer demands and new technologies and other industry needs, or achieve its goals in a timely way, its company, money affliction and effects of functions could be harmed
• Rainwater Tech’s failure to efficiently produce and develop its product sales and internet marketing abilities could damage its capability to maximize its buyer base and obtain broader market place acceptance of its rain generation know-how
• The danger of third events asserting that Rainwater Tech is violating their mental property legal rights
• Challenges relating to the generation and producing of Rainwater Tech’s technological innovation, which includes supply chain problems to obtain essential supplies, provides and spare areas to construct and operate its system
• Rainwater Tech have to overcome significant engineering, technologies, operations and climatological difficulties to provide reliable final results
• Rainwater Tech has not to day attained statistically major final results, and faces pitfalls and uncertainties relating to its means to get hold of statistically sizeable outcomes and repeat good results demonstrating its skill to boost rainfall
• Pitfalls relating to the effect of competing technologies, such as desalination and chemical-dependent cloudseeding engineering, on Rainwater Tech’s company
• Challenges relating to environmental and temperature situations that are correlated with profitable rainfall era, as nicely as other ESG-associated issues
• Rainwater Tech could confront legal responsibility for changing environmental and/or weather disorders, which include problems resulting from abnormal rain
• Pitfalls relating to the failures of Rainwater Tech’s clients, each non-public and public, to fulfill payment obligations, together with refusal to pay for rainfall generation expert services that right or indirectly benefit other nearby get-togethers
• Pitfalls of method securities and facts protection breaches
• Rainwater Tech is remarkably dependent on its senior complex advisors, and its ability to capability to bring in, recruit, and retain senior administration and other key workforce, as nicely as find certified labor with the individual competencies required to manufacture, work and advance the platform, is important to its accomplishment if Rainwater Tech is not able to keep talented, highly-competent senior administration and other essential workforce or appeal to them when required, it could negatively impact its organization
• Threats with regards to possible improvements in legislative and regulatory environments that may well restrict the scope of Rainwater Tech’s marketplace, which includes land restriction guidelines and its skill to get and manage permits
• Rainwater Tech might experience political and social opposition to its small business and functions
• Subsequent the consummation of the Organization Mixture, the put together corporation will incur considerable enhanced bills and administrative burdens as a public business, which could negatively impact its organization, money ailment and success of operations
• Rainwater Tech’s good results could be impacted by the incapacity of the get-togethers to effectively or timely consummate the proposed Enterprise Mixture, which include the hazard that any demanded regulatory approvals are not acquired, are delayed, or are issue to unanticipated problems that could adversely have an affect on the put together company or the envisioned added benefits of the proposed Company Mixture and
• If the Organization Combination’s gains do not meet up with the expectations of traders or securities analysts, the industry value of dMY VI’s securities or, pursuing the closing, the put together entity’s securities, could decline.
You ought to meticulously take into account the challenges and uncertainties that will be described in the Securities Legislation Disclosure Files and any amendments thereto.
View supply version on businesswire.com:https://www.businesswire.com/news/property/20230222005361/en/
Contact: Investor Relations/Media
Info Agent
Morrow Sodali LLC
333 Ludlow Street
5th Flooring, South Tower
Stamford, CT 06902
Tel: +1 (800) 662-5200 (toll-totally free, persons), +1 (203) 658-9400 (financial institutions and brokers)
E-mail:[email protected]
Key word: NEVADA UNITED STATES NORTH The us
Industry Search term: OTHER Natural Methods UTILITIES Surroundings SUSTAINABILITY Purely natural Methods Environmentally friendly Technological know-how Strength
Supply: dMY Technologies Group, Inc.
Copyright Company Wire 2023.
PUB: 02/22/2023 08:00 AM/DISC: 02/22/2023 08:01 AM
