arya sciences Acquisition IV in an 8-K today said it approved the ninth one-month extension to complete a deal, to March 2. The SPAC drew $140,000 from an unsecured promissory note issued Sept. 27 by the sponsor.
The SPAC also drew $50,000 under the Third Promissory Note for general working capital purposes.
The extension is the last one-month extension currently permitted.
ARYA Sciences IV raised $130 million almost three years ago to focus on the healthcare industry in the United States and other developed countries.
The SPAC two years ago mutually agreed with Amicus Therapeutics to terminate a spin-out agreement. The plan was to separate Amicus' gene therapy business through the SPAC's acquisition and launch a genetic medicine company. The transaction would have resulted in two independent publicly-traded companies.The SPAC cited existing market conditions for the pullout. Read more.