Business
Soulpower Acquisition Corporation (NYSE:SOUL) and SWB Holdings Amend Business Combination Agreement and Announce Adjustment to Asset Contributions
~ Anticipated Business Combination Now Expected to Close in Late Q2 or Q3 2026; Combined Company Pro Forma Valuation Currently Expected at Approximately $8.5 Billion ~NEW YORK, NY, March 31, 2026 (GLOBE NEWSWIRE) -- Soulpower Acquisition Corporation (NYSE:SOUL) (“Soulpower”), a financials-focused special purpose acquisition company, and SWB Holdings (“Pubco”), a newly established Cayman Islands exempted company formed to be the publicly listed holding company of SOUL WORLD BANK™ and affiliates t
About this update from Soulpower Acquisition Corporation
[{"type":"text","content":"~ Anticipated Business Combination Now Expected to Close in Late Q2 or Q3 2026; Combined Company Pro Forma Valuation Currently Expected at Approximately $8.5 Billion ~","length":167,"tagName":"p"},{"type":"text","content":"NEW YORK, NY, March 31, 2026 (GLOBE NEWSWIRE) -- Soulpower Acquisition Corporation (NYSE:SOUL) (“Soulpower”), a financials-focused special purpose acquisition company, and SWB Holdings (“Pubco”), a newly established Cayman Islands exempted company formed to be the publicly listed holding company of SOUL WORLD BANK™ and affiliates through SWB LLC, today announced an adjustment to the asset contributions, including an additional asset contribution, as well as an amendment (the “BCA Amendment”) to the business combination agreement among Soulpower, Pubco, SWB LLC and certain other parties, originally announced on November 24, 2025 (as amended, the “Amended BCA”).","length":668,"tagName":"p"},{"type":"text","content":"SWB and Soulpower agreed to a revised list of asset contributions, including the elimination of certain assets from the assets to be contributed shortly prior to the closing of the business combination contemplated by the Amended BCA (“Business Combination”), as well as the additional asset contribution of:","length":308,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Uruguay Iron Mine – In connection with and immediately after the closing of the Business Combination, SWB LLC is expected to acquire two Uruguayan corporations that hold exclusive mining rights, comprising prospecting and exploration permits, over four strategic high-grade iron projects in the Department of Rivera, Uruguay, carrying conservative estimated resources of approximately 1,170 million tons of run-of-mine material. The parties intend to further amend the Amended BCA to take into account the structuring of this particular asset acquisition.","length":555,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":555,"olType":false},{"type":"text","content":"Following the closing of the Business Combination (the “Closing”), Pubco intends to consider potentially acquiring certain of the assets that are being excluded from the contributed assets taken into account in the Business Combination.","length":236,"tagName":"p"},{"type":"text","content":"In the BCA Amendment, the parties agreed to certain clari...