Blue World Acquisition said it again extending its merger deadline — from June 2 to July 2.
In consideration for the extra time, the SPAC will arrange for the deposit into trust of $194,324 (2.95 cents a share).
Earlier this month Blue World shareholders approved an extension plan in monthly increments that would give the SPAC up to February 2024 to find and close a deal. Redemptions at the time of the vote totaled 2,612,769, or about 28% of shares outstanding.
Blue World raised $92 million in a February 2022 ipo to pursue an acquisition primarily in the marine leisure, cruise, marine infrastructure and engineering, general hospitality, travel and tourism, marine services, logistics and supply chain, offshore energy solutions and related industry segments. Read more.