Flame Acquisition (FLME) has released an update.
On February 12, 2024, Flame Acquisition Corp. held a pivotal Special Meeting, securing overwhelming support for a business combination with Holdco and SOC. Despite a PIPE Investor backing out of a $125 million commitment, the company swiftly rallied, replacing $53 million through additional investments, including a personal commitment from the CEO. The successful vote and subsequent financial maneuvers ensure the company is on track to meet its $150 million cash threshold, with a promising outlook for post-merger operations and capital sufficiency.
For further insights into FLME stock, check out TipRanks’ Stock Analysis page.
