Newcourt Acquisition Corp

Newcourt Acquisition Corp. is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. It intends to focus on identifying digital financial services and financial technology businesses with exposure to emerging markets. The company was founded on February 25, 2021 and is headquartered in Oakland, CA.

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Newcourt Acquisition Corp. is a blank check company, which engages in the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on February 25, 2021 and is headquartered in Oakland, CA.

Newcourt Acquisition (NASDAQ: NCAC ) stock is falling on Tuesday as the special purpose acquisition company (SPAC) provides investors with an update on its business combination plans. According to a press release, the business combination conditions between it and Pubco haven't been satisfied yet.

Why Is Newcourt Acquisition (NCAC) Stock Down 16% Today?

NEW YORK, NY, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Newcourt Acquisition Corp (“Newcourt”) (NASDAQ: NCAC) announced today that the conditions to closing the business combination (the “Business Combination”) pursuant to the Amended and Restated Business Combination Agreement, dated July 31, 2023 (as amended, supplemented, or otherwise modified from time to time, the “Amended and Restated Business Combination Agreement”), by and among Newcourt, Newcourt SPAC Sponsor LLC, Psyence Group Inc. (CSE: PSYG) (“Psyence”), Psyence Biomedical Ltd., a corporation organized under the laws of Ontario, Canada (“Pubco”), Psyence (Cayman) Merger Sub, Psyence Biomed Corp., and Psyence Biomed II Corp. have not yet been satisfied and the business combination has not closed. The parties are working together to expeditiously satisfy such closing conditions, including obtaining the approval of Nasdaq to list Pubco's ordinary shares following the closing of the business combination. On January 22, 2024, Newcourt's shareholders approved to extend the date by which Newcourt must consummate its initial business combination from January 22, 2024 to February 22, 2024.  There can be no assurance that the business combination will be consummated by February 22, 2024.

Newcourt Acquisition Corp Announces Continuation of Business Combination Close Process

New York, NY, Dec. 30, 2022 (GLOBE NEWSWIRE) -- Newcourt Acquisition Corp (the “Company”) (NASDAQ: NCAC) announced today that the Company has determined to modify the terms of the proposed amendment (the “Trust Agreement Amendment”) of the Company's investment management trust agreement, dated as of October 19, 2021 (the “Trust Agreement”), described in the Company's definitive proxy statement (the “Definitive Proxy Statement”) filed on December 21, 2022 for the solicitation of proxies in connection with an extraordinary general meeting of the Company's shareholders to be held on January 6, 2023 to consider and vote on the extension (the “Extension”) of the time period the Company has to complete an initial business combination (the “Business Combination”) and the related Trust Agreement Amendment.

Newcourt Acquisition Corp Announces Amendment and Supplement to its Definitive Proxy Statement

News for Newcourt Acquisition Corp Stock (NCAC)