Street Calls of the Week
PHP Ventures Acquisition Corp., a Delaware-based blank check company, announced it has deposited $4,770.70 into its trust account to extend the deadline for completing an initial business combination by one month, from October 16, 2025 to November 16, 2025. The announcement was made in a press release statement filed with the Securities and Exchange Commission on Thursday. Blank check companies, also known as SPACs, typically have 18-24 months to complete a merger with a target company.
The extension allows PHP Ventures Acquisition to continue its search for a target company for a potential merger or acquisition. The company, which was previously suspended from trading on Nasdaq on April 19, 2024, and had a Form 25 filed on June 28, 2024, remains classified as an emerging growth company. InvestingPro subscribers gain access to comprehensive SPAC research tools and merger analysis, helping investors track potential business combinations and evaluate investment opportunities in the SPAC market.
No securities are currently registered pursuant to Section 12(b) of the Securities Exchange Act for PHP Ventures Acquisition. The extension was executed by depositing additional funds into the trust account designated for public stockholders.
The information in this article is based on a statement made in a recent SEC filing.
In other recent news, ON Semiconductor has seen its stock price target raised by BofA Securities from $52.00 to $62.00, maintaining a Neutral rating. This adjustment follows shortages faced by Nexperia, affecting automotive supply chains. Meanwhile, OneConnect Financial Technology announced plans to halt trading of its American depositary shares on the New York Stock Exchange before October 30, as part of a privatization plan with Ping An Insurance Group. Ascendis Pharma disclosed the granting of 31,710 warrants to employees, with an exercise price matching the closing price of its shares at $208.71. Additionally, Ascendis Pharma increased its share capital by issuing 543,748 new shares, following the exercise of outstanding warrants. Scorpius Holdings entered into a $500,083 loan agreement, with potential for up to $5 million in additional funding. This loan carries a 5% annual interest rate and matures by October 31, 2025, or upon certain corporate events. These developments highlight key financial and strategic activities across the companies.
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