BlueRiver Acquisition Postpones Extension Vote by a Week

BlueRiver Acquisition in an 8-K said Friday's shareholder meeting to consider a deadline extension has been postponed until July 28 at 10 a.m. Eastern.

As a result, the cutoff for redemptions has been moved to July 26.

The SPAC wants to push its Aug. 2 deadline to Feb. 2, 2024. If approved and if management opts to run the extension until next February, it would mark more than three years since the SPAC's .

BlueRiver in March transferred its stock listing from the NYSE to the NYSE American. The decision to step down to the NYSE American followed heavy redemptions of the SPAC's Class A common stock in connection with a January vote to push its merger deadline until the current date in August. Based on the estimated redemption price of $10.63, the SPAC lost $284 million of the $292 million it held in trust ahead of that vote.

Also in January, BlueRiver said it had signed a non-binding letter of intent with a target in the medical technology sector, although there has been no further announcement on that potential deal. Read more.

Source: BlueRiver Acquisition Postpones Extension Vote by a Week