Electrum Special Acquisition Corporation (NASDAQ:ELEC) Files An 8-K Other Events

Item 8.01.

Electrum Special Acquisition Corporation (the Company) previously
announced that it will hold a special meeting of shareholders on
June 5, 2017 at 10:30 a.m., local time, at the offices of
Greenberg Traurig, LLP, located at the MetLife Building, 200 Park
Avenue, New York, New York 10166 (the Special Meeting) to vote on
(i) an amendment (the Extension Amendment) to the Companys
Memorandum and Articles of Association to extend the date by
which the Company has to consummate a business combination (the
Extension) for an additional 120 days, from June 10, 2017 to
October 8, 2017 (the Extended Date); and (ii) an amendment (the
Trust Amendment) to the Companys investment management trust
agreement, dated June 10, 2015, by and between the Company and
Continental Stock Transfer Trust Company to extend the date on
which to commence liquidating the trust account (the Trust
Account) established in connection with the Companys initial
public offering in the event the Company has not consummated a
business combination by the Extended Date.

If the Extension Amendment and Trust Amendment are approved, the
Companys sponsor, ESAC Holdings LLC, has agreed to contribute to
the Company as a loan $0.025 for each public share that is not
redeemed, for each calendar month (commencing on June 10, 2017
and on the 10th day of each subsequent month), or portion
thereof, that is needed by the Company to complete a business
combination from June 10, 2017 until the Extended Date (the
Contribution). For example, if the Company takes until October 8,
2017 to complete its business combination, which would represent
four calendar months, the Companys sponsor would make aggregate
Contributions of approximately $2,000,000 (assuming no public
shares were redeemed). Each Contribution will be deposited in the
Trust Account within seven calendar days from the beginning of
such calendar month (or portion thereof). Accordingly, if the
Extension Amendment and the Trust Amendment are approved, the
Extension is implemented and the Company takes the entire time
through the Extended Date to complete its initial business
combination, the redemption amount per share at the meeting for
such business combination or the Companys subsequent liquidation
will be approximately $10.15 per share, in comparison to the
current redemption amount of approximately $10.05 per share. The
Contribution is conditional upon the implementation of the
Extension Amendment. The Contribution will not occur if the
Extension Amendment is not approved or the Extension is not
completed for any reason. The amount of the Contributions will
not bear interest and will be repayable by the Company to the
Companys sponsor upon consummation of the Companys initial
business combination. If the Companys sponsor advises the Company
that it does not intend to make the Contribution, then the
Extension Amendment and the Trust Amendment will not be put
before the shareholders at the Special Meeting and the Company
will dissolve and liquidate in accordance with its Memorandum and
Articles of Association if the Company does not complete a
business combination by June 10, 2017. The Companys sponsor will
have sole discretion to determine whether to continue extending
for additional calendar months until the Extended Date, and if
the Companys sponsor determines not to continue extending for
additional calendar months, its obligation to make additional
Contributions will terminate and the Company will dissolve and
liquidate in accordance with its Memorandum and Articles of
Association.

On May 24, 2017, the Company issued a press release announcing
the Contribution. A copy of the press release is attached to this
report as Exhibit 99.1 and is incorporated herein by reference.

About Electrum Special Acquisition Corporation (NASDAQ:ELEC)

Electrum Special Acquisition Corporation is a blank check company. The Company will seek to capitalize on the global network, and seeks to identify, acquire and operate one or more businesses or assets in the metals and mining industry within or outside of the United States, although the Company may pursue a business combination outside of this industry. The Company’s focus of identifying a target business will not be limited to a particular industry or geographic region, although the Company intends to focus its search on target businesses and assets in the metals and mining industry, with a focus on gold and other precious metals. It has no operations. As of November 30, 2016, the Company had not generated any revenues.

Electrum Special Acquisition Corporation (NASDAQ:ELEC) Recent Trading Information

Electrum Special Acquisition Corporation (NASDAQ:ELEC) closed its last trading session 00.00 at 10.01 with 0 shares trading hands.