Unusual arrangement between $PMTR & $TVA disclosed in $TVA's recently filed S-4.
$PMTR had been negotiating a potential merger with PlusAI and already had a draft term sheet.
On May 21, 2026, $PMTR & $TVA agreed to partner on the proposed PlusAI transaction. $PMTR's existing draft term sheet with PlusAI was then delivered to $TVA, which became the merger vehicle.
A pre-merger SPAC helping another pre-merger SPAC secure a deal. Interesting.
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