RCAC

Revelstone Capital Acquisition Corp. Cancels Special Meeting to Approve Business Combination with Set Jet

Retrieved on: 
Friday, January 5, 2024
EST, RCAC, Business analyst, Acquisition, Date, Proxy, Special

The conditions to closing of the Business Combination, as described in the Proxy Statement/Prospectus, have not yet been satisfied.

Key Points: 
  • The conditions to closing of the Business Combination, as described in the Proxy Statement/Prospectus, have not yet been satisfied.
  • There can be no assurance that the Business Combination will be consummated within the time period required by RCAC governing documents.
  • The Company plans to reschedule the meeting for stockholders to approve the Business Combination (the “Special Meeting”) at a time and date to be determined once a new record date has been established for stockholders of record on such date (the “Record Date”) to vote upon proposals to approve the Business Combination and related matters.
  • Proxy materials containing the new time and date for the Special Meeting, the new redemption deadline date, the proposals to approve the Business Combination and related matters, will then be sent to stockholders of record as of the Record Date.

Revelstone Capital Acquisition Corp. Adjourns Special Meeting to Approve Business Combination with Set Jet

Retrieved on: 
Friday, December 29, 2023
Transfer, EST, RCAC, Acquisition, Meeting

SCOTTSDALE, Ariz. and NEW YORK, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Revelstone Capital Acquisition Corp. (“RCAC”) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, today announced that it has adjourned the meeting for shareholders to approve the proposed business combination (the “Business Combination”) with Set Jet, Inc. (“Set Jet”) to Friday, January 5, 2024 at 1:00 p.m. EST (the “BC Special Meeting”).

Key Points: 
  • SCOTTSDALE, Ariz. and NEW YORK, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Revelstone Capital Acquisition Corp. (“RCAC”) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, today announced that it has adjourned the meeting for shareholders to approve the proposed business combination (the “Business Combination”) with Set Jet, Inc. (“Set Jet”) to Friday, January 5, 2024 at 1:00 p.m. EST (the “BC Special Meeting”).
  • The Meeting will still be held virtually via live webcast at https://www.cstproxy.com/revelstonecapital/sm2023 .
  • Shareholders of record as of the close of business on November 10, 2023 (the “Record Date”) are entitled to vote at the Meeting.
  • Shareholders may withdraw redemptions with the Company’s consent at any time until the closing of the business combination.

Revelstone Capital Acquisition Corp. Adjourns Special Meeting to Approve Business Combination with Set Jet

Retrieved on: 
Wednesday, December 27, 2023
Transfer, EST, RCAC, Acquisition, Meeting

SCOTTSDALE, Ariz. and NEW YORK, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Revelstone Capital Acquisition Corp. (“RCAC”) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, today announced that it has adjourned the meeting for shareholders to approve the proposed business combination (the “Business Combination”) with Set Jet, Inc. (“Set Jet”) to Friday, December 29, 2023 at 12:00 p.m. EST (the “BC Special Meeting”).

Key Points: 
  • SCOTTSDALE, Ariz. and NEW YORK, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Revelstone Capital Acquisition Corp. (“RCAC”) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, today announced that it has adjourned the meeting for shareholders to approve the proposed business combination (the “Business Combination”) with Set Jet, Inc. (“Set Jet”) to Friday, December 29, 2023 at 12:00 p.m. EST (the “BC Special Meeting”).
  • The Meeting will still be held virtually via live webcast at https://www.cstproxy.com/revelstonecapital/sm2023 .
  • Shareholders of record as of the close of business on November 10, 2023 (the “Record Date”) are entitled to vote at the Meeting.
  • Shareholders may withdraw redemptions with the Company’s consent at any time until the closing of the business combination.

Set Jet and Revelstone Capital Acquisition Corp. Receive Effectiveness of S-4 Registration Statement and Announce Date of Revelstone Special Meeting of Stockholders to Approve Proposed Business Combination

Retrieved on: 
Thursday, December 14, 2023
Telephone, Marketing, RCAC, Business analyst, LLP, Acquisition, Roth Capital Partners, Form, Date, Proxy, Snell & Wilmer, Register, Set, Special, Growth, Registration statement, Security (finance), Holding company

SCOTTSDALE, Ariz. and NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Set Jet, Inc. (“Set Jet”), a membership-based private jet charter program, and Revelstone Capital Acquisition Corp. (“RCAC”) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, announced today that the Securities and Exchange Commission ("SEC") has declared effective RCAC’s registration Statement on Form S-4 ("Registration Statement") in connection with Set Jet’s and RCAC’s previously announced proposed business combination (the “Business Combination”). The Registration Statement provides important information about Set Jet, RCAC and the Business Combination.

Key Points: 
  • The Registration Statement provides important information about Set Jet, RCAC and the Business Combination.
  • RCAC filed a definitive proxy statement/prospectus with the SEC relating to the Business Combination and has commenced mailing the definitive proxy statement/prospectus to its stockholders as of the Record Date.
  • The Business Combination is expected to close after the Special Meeting, subject to obtaining requisite stockholder approvals and the satisfaction or waiver of the conditions in the business combination agreement and other customary closing conditions.
  • The differentiation of Set Jet’s capital-light business model presents an attractive growth opportunity for investors and Set Jet’s dedicated members.

Set Jet to Become Public Via Merger with Revelstone Capital Acquisition Corp.

Retrieved on: 
Tuesday, July 18, 2023
Aircraft, Federal Aviation Administration, SJET, Bombardier Challenger 850, LLP, Closing, Partnership, Travel, Bombardier, U.S. Department of Defense Strategy for Operating in Cyberspace, Yard House, Aviation, PIPE, ATP, Business, TASER, RCAC, Business analyst, Privacy, Cyprus Securities and Exchange Commission, FAQ, Acquisition, CFO, City, Security (finance), Snell & Wilmer, Roth Capital Partners, Renewable energy, Management, Airline, Financial adviser, Eurozone

The Proposed Business Combination reflects an implied pro-forma enterprise value for Set Jet of approximately $80 million plus an additional $65 million earnout for Set Jet shareholders and management.

Key Points: 
  • The Proposed Business Combination reflects an implied pro-forma enterprise value for Set Jet of approximately $80 million plus an additional $65 million earnout for Set Jet shareholders and management.
  • Set Jet has exclusive use of five wide-body Bombardier Challenger 850 aircraft, designed to deliver a superior in-air experience.
  • Importantly, the leadership team of Set Jet embodies a true passion for the business, having been founded and led by seasoned aviation professionals.
  • Under the terms of the Proposed Business Combination, RCAC will combine with Set Jet, and in connection with the business combination, Set Jet will become a publicly traded entity under the name “Set Jet” and symbol SJET.

Revelstone Capital Acquisition Corp. Receives Notice from Nasdaq Regarding Delayed Quarterly Report

Retrieved on: 
Tuesday, May 30, 2023
Professional Services, Finance, Calendar, RCAC, Listing Rules, Form, Security (finance), Cryptocurrency, Notice

Revelstone Capital Acquisition Corp. (the “Company”) (NASDAQ: RCAC) today announced that it received a notice (“Notice”) on May 24, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because the Company failed to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2023 (the “10-Q”) with the Securities and Exchange Commission (the “SEC”).

Key Points: 
  • Revelstone Capital Acquisition Corp. (the “Company”) (NASDAQ: RCAC) today announced that it received a notice (“Notice”) on May 24, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because the Company failed to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2023 (the “10-Q”) with the Securities and Exchange Commission (the “SEC”).
  • The Company filed its 10-Q on May 25, 2023, and will immediately inform Nasdaq in order to regain compliance with the Listing Rule.
  • The Notice has no immediate effect on the listing or trading of the Company’s securities on the Nasdaq Global Market.
  • This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification.