Better World Acquisition in a proxy filing updated shareholders in asdvance of next week's vote on a deadline extension.
The SPAC said any redeemed shares would be cashed out for approximately $10.58 each, after taking into account the removal of a portion of the accrued interest in the trust to cover excise tax.
Better World wants to extend its Feb. 17 deadline to Aug. 17. If shareholders approve, the SPAC has agreed to incrase its monthly deposit into trust to 4.5 cents a share, up from 4 cents a share.
The SPAC is still soliciting proxies ahead of the Feb. 8 meeting to consider the extension proposal. Read more.
Better World has a deal in hand with Heritage Distilling Holding Company, a craft distiller. The deal has a pro forma enterprise value of $122.2 million. Read more.
Source: Better World Acquisition Tweaks Proxy to Address Redemption Taxes