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NEW YORK, Feb. 27, 2024 /PRNewswire/ — Chardan, a global investment bank, has announced that it has acted as financial advisor to Blufire Capital in connection with the Purchase and Sponsor Handover Agreement between Blufire Capital and Eve Mobility Acquisition Corp.

“SPAC takeovers can be excellent strategies for both existing and would be sponsors, accelerating value while saving time and money. We are pleased to have advised Blufire through the process,” said George Kaufman, Chardan Partner and Head of Investment Banking.

A SPAC takeover or Purchase and Sponsor Handover occurs when an original SPAC sponsor transfers and assigns shares to a new sponsor in exchange for the new sponsor assuming certain liabilities, including costs and expenses, incurred in the ordinary course of business.

Since inception, Chardan has been in involved in over 124 SPAC IPOs raising over $15 billion, 46 SPAC business combinations totaling over $43.3 billion in transaction value, and 15 sponsored/co-sponsored SPACs.

About Chardan
Chardan Capital Markets, LLC (Chardan) is an independent global investment bank specializing in healthcare, disruptive technologies, and SPACs. Our range of services include capital raising, merger and acquisition advisory, strategic advisory, equity research, corporate access, and institutional trading. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, and NASDAQ.
Learn more about Chardan at www.chardan.com

Media Inquiries:
Emily Levine, Chardan
media@chardan.com

Article originally published here: https://www.prnewswire.com/apac/news-releases/chardan-acts-as-financial-advisor-in-spac-takeover-302071608.html

Future Health ESG Corp. (FHLT) has released an update.

Future Health ESG Corp. underwent significant changes with Blufire Capital Limited becoming the new sponsor through a Purchase and Sponsor Handover Agreement. This move included a stock and warrant transfer, management shifts, and the appointment of Jesvin Kaur as Chief Operating Officer, bringing her extensive experience in business advisory and strategic communication to the company. The agreement is subject to various conditions, including approval by the board and stockholders, with the aim of enhancing Future Health’s market position and governance.

Article originally published on: https://www.tipranks.com/news/company-announcements/future-health-esg-corp-welcomes-new-sponsor-and-coo

EVe Mobility Acquisition in a regulatory filing said it entered into a purchase and sponsor handover agreement with Blufire Capital, an Abu Dhabi private company. EVe’s sponsor agreed to transfer 6,320,667 Class A shares in exchange for Blufire assuming certain liabilities of EVe and the sponsor, including costs and expenses. Blufire also agreed to convert approximately $425,000 of working capital notes owed by EVe to the sponsor into Class A shares at the closing of a business combination at a rate of one share for every $10 in working capital notes.

New members of EVe’s board and a new management team for EVe must be appointed by the existing board and the existing management team, other than EVe’s Chief Operating Officer, Jesvin Kaur, would resign.

EVe raised $220 million in a December 2021 IPO to focus on the mobility-related ecosystem. Read more.

Article originally published here: https://news.spacconference.com/2024/02/07/eve-mobility-acquisition-sells-sponsor-control-to-blufire-capital/