Aurora Technology Acquisition announced today that its sponsor deposited $135,000 into the company's trust to extend the merger deadline to April 9.
The extension payment was loaned as a draw down under an unsecured promissory note for $810,000 to the sponsor.
Aurora has a deal in hand with robotics and virtual reality tech provider DIH Holding US at an enterprise value of approximately $321.9 million.
If approved, DIH is expected to list on the nasdaq.
The estimated pro forma enterprise value includes an anticipated $20 of DIH net debt at closing, and $58.3 million held in Aurora trust account, subject to redemptions.
In addition, equity holders of DIH will be entitled to receive up to $60 million in stock depending on certain stock price-based thresholds being achieved within five years from closing. Read more.
Source: Aurora Technology Acquisition Taps Sponsor for Another 5K to Extend Deadline by a Month