The Clap SWVL & Special Purpose Acquisition Company (SPAC) Queen’s Gambit have announced the “effectiveness of the F-4 registration statement.”
Aaand what’s that? The F-4 form is widely used in mergers & acquisitions involving foreign private issuers to register securities.
What this means The companies received U.S. regulatory approval for the merger. What remains is for shareholders to meet & approve the listing of 35% of the company’s shares, which is set to happen on March 30, 2022.
If the listing gets approved at the shareholder’s meeting, then the deal could be done as early as the very next day, March 31, 2022, once “customary closing conditions” are met.