Post Merger/DeSPAC Highlights (Sep, 23 – Sep, 29)

SAIHEAT Expands in Middle East Nuclear Market

SAIHEAT Ltd (SAIH)
TradeUP Global Corporation (TUGC)

SAIHEAT, a Nasdaq-listed company specializing in advanced computing and nuclear technology, has signed two Memorandums of Understanding (MoU) to boost its presence in the Middle Eastern nuclear and Small Modular Reactor (SMR) markets.

The first MoU with Jiangsu Shentong Nuclear Equipment Co., Ltd. focuses on exporting electrical and instrumentation control systems for nuclear power plants. This partnership will cover various components like valves, filters, and strainers, emphasizing nuclear safety and quality management.

The second MoU with Shanghai Kaiquan Pump Co., Ltd. outlines a plan for joint production of nuclear and SMR equipment, specifically centrifugal pumps. This collaboration aims to increase competitiveness and localize production in the Middle East.

Both agreements highlight SAIHEAT’s commitment to expanding its global footprint in the nuclear industry by leveraging partnerships and offering innovative solutions. The company aims to strengthen its position as a key player in the evolving landscape of nuclear energy, particularly in the growing SMR sector.

AvePoint Warrant Offer Expires with Low Tender Rate

AvePoint, Inc. (AVPT)
Apex Technology Acquisition Corp (APXT)

AvePoint, a global leader in data management and governance, announced the expiration of its offer to purchase outstanding warrants at $2.50 per warrant. The offer, which expired on September 24, 2024, saw a low tender rate of approximately 9.1%, with only 1,596,314 warrants validly tendered.

The company also sought consent to amend the warrant agreement to allow for the redemption of untendered warrants at a lower price of $2.00. However, this amendment failed to gain the required approval from warrant holders.

Despite the low tender rate, AvePoint will proceed with the purchase of the validly tendered warrants for a total of approximately $4.0 million. The company’s common stock and warrants continue to be listed on the Nasdaq Stock Market under the symbols “AVPT” and “AVPTW” respectively.

Crowdkeep and Veea Partner to Deliver AI-Powered Edge Solutions

Veea Inc. (VEEA)
Plum Acquisition Corp. I (PLMI)

Crowdkeep, an IoT platform for asset and people tracking, and Veea, an edge computing company, have announced a strategic partnership to deliver AI-enabled solutions for various sectors, including construction, healthcare, logistics, and education.

This collaboration combines Crowdkeep’s IoT platform with Veea’s edge computing platform to create a comprehensive solution managed at the edge. This integrated platform offers a range of capabilities, including:

• Real-time tracking: Monitor employees, students, or guests, and valuable assets.
• Environmental monitoring: Control and automate responses to fire, smoke, temperature fluctuations, and air/water quality changes.
• Emergency response: Comply with safety regulations (like Alyssa’s Law) and provide real-time location tracking for emergency situations.
• AI-powered insights: Leverage machine learning for predictive analysis, anomaly detection, and optimized resource allocation.

This partnership aims to optimize operational efficiency, maximize safety, and streamline management in various settings like construction sites, schools, hospitals, and logistics operations. The combined platform offers a robust solution for organizations seeking to leverage the power of edge computing and AI for improved safety, efficiency, and data-driven decision-making.

Canoo Enters UK with EV Activation Center

Canoo Inc. (GOEV)
Hennessy Capital Acquisition Corp IV (HCAC)

Canoo, an American EV manufacturer, is expanding into the UK with a new commercial operations and activation center at Bicester Motion. This strategic move targets the UK’s growing EV market and its ambitious zero-emission goals.

The Bicester Motion location will serve as a hub for customer engagement and test drives of Canoo’s right-hand drive electric vans. The company will work closely with UK customers to tailor solutions to their needs, starting with pilot programs.

Canoo’s expansion aligns with the UK’s push for EV adoption, with regulations mandating a significant increase in zero-emission vehicle sales by 2030 and 2035. The partnership with Bicester Motion, a renowned automotive innovation hub, provides Canoo with a strong platform to connect with industry leaders and showcase its EV technology.

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