Constellation Acquisition I postponed today's vote on an extension proposal until tomorrow. The SPAC indicated it still needs more time to engage with shareholders, after delaying the vote originally scheduled for Tuesday.
At the rescheduled meeting shareholders will be asked to consider a deadline extension in up to 9 monthly increments from the current April 29 termination date.
Constellation I has been searching for a suitable company “that is at the forefront of change in one of several rapidly changing segments of the global economy,” driven either by digitization of business processes, the rising global middle class and their increased focus on personal well-being or the pace and impact of disruptive innovation. The SPAC raised $300 million in an ipo two years ago.
The SPAC is led by CEO and Chairman Klaus Kleinfeld, former CEO of NEOM, Arconic, and Alcoa. Read more.