Catcha Investment Postpones Crown LNG Vote for 2nd Time

Catcha Investment in an 8-K said the shareholder meeting set for March 22 to vote on a deal has been postponed to March 26.

The SPAC has a deal with Crown LNG, a provider of LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations.

This is the second rescheduled meeting to vote on the transaction, which was originally set for March 6.

Catcha and Crown announced the deal back in August at a pre-money valuation of approximately $600 million, and a pro forma enterprise value of the combined company at $685 million.

If approved, upon completion Crown's shares are expected to trade on the NYSE under the ticker CGBS.

The transaction is expected to provide $50 million of capital, with net proceeds going to fund the company's Kakinada and Grangemouth projects to final investment decision. 

Holders of the SPAC's Class A can redeem up to March 22 at 5 p.m. Eastern. Read more.

Source: Catcha Investment Postpones Crown LNG Vote for 2nd Time