BlueRiver Acquisition said it will seek a review of the NYSE American's decision to delist the SPAC's stock from the exchange because it had not completed a deal within 36 months of the effectiveness of its ipo registration statement.
For now, the securities continue to trade.
The SPAC also announced that it and merger partner Spinal Stabilization Technologies agreed to extend the deal's termination date until March 31, when either party could abandon the transaction.
Spinal Stabilization Technologies is a medical device company focused on developing and then commercializing a proprietary lumbar implant for nucleus pulposus replacement to alleviate certain types of lower back pain.
At deal announcement last July, the combined company was expected to have an estimated post-transaction enterprise value of approximately $302 million. That figure assumed a proposed $40 million PIPE and 100% redemptions by BlueRiver shareholders. Read more.