Tech-focused Acri Capital Acquisition in a proxy filing said it will raise its monthly deposit into trust from 3.33 cents a share to 6.25 cents if stockholders approve a merger deadline extension that would give the SPAC up to nine more months to close a deal. No other business is scheduled for the Jan. 26 meeting when shareholders are scheduled to vote on the proposal.
The clock starts running on the extension if Acri has not completed a merger by March 14.
The SPAC raised $86.25 million in an IPO last June. Acri is targeting technology-enabled sectors in North America, including the e-commerce, financial services, educational technology services, or health information service sectors. Read more.
Source: Acri Capital Acquisition Raises Non-Redemption Cash Offer for Proposed 9-Month Extension