Battery Future Acquisition in a proxy filing seeks investor approval for a deadline extension up to June 2014 in monthly increments. If approved, the SPAC's sponsor would deposit up to $3 million in trust if all extension periods are used.
Battery Future raised $300 million in a December 2021 ipo with plans to focus on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain.
The SPAC last month secured a working capital loan of up to $1 million through one of its sponsors, Pala Investments Limited. Pala can convert any portion of the loan balance into warrants at $1 each. Read more.
Source: Battery Future Acquisition Asks Shareholders for Another Year to Complete a Deal