Broad Capital Acquisition said it has postponed a Jan. 9 shareholders meeting until Jan, 10. Shareholders are expected to vote on a proposal to extend Broad Capital's termination date from Jan. 13 until Oct. 13.
If the proposal is approved, the sponsor will deposit 6.25 cents a share into trust for each month required.
The extension payment will be deposited in the trust account by Jan. 13, the SPAC said. Broad Capital raised $100 million in an ipo a year ago to target tech companies. Read more.
Source: Broad Capital Acquisition Pushes Extension Vote Back 24 hours