Energem announced today that with its registration statement now effective, shareholders will meet Feb. 23 to vote on the proposed merger with Graphjet Technology Sdn. Bhd., a Malaysian company that produces green, low-cost graphene, graphite and graphene-based materials.
Energem last month filed a proxy seeking a six-month extension to close the deal. A vote on the extension proposal is slated for Feb. 16.
The deal was announced in August 2022. At announcement, Graphjet investors were to receive $117 million of cash in Energem's trust, as well as rollover equity. Hovever, the SPAC held just shy of $14 million in trust as of Dec. 31. Read more.