Enphys Acquisition in an 8-K said it issued a promissory note to its sponsor, which has agreed to make extrension payments in the SPAC's trust up to June 8.
The sponsor will deposit the lesser of $80,000 or 2 cents a share for each month required, up to a maximum deposit of $320,000.
The SPAC announced last August it had signed a letter of intent for a deal with a Latin American biofuels company, but there has been no further news.
Enphys raised $345 million in an October 2021 ipo with plans to target businesses predominantly operating in Ibero-America and whose strategy is aligned with energy transition and sustainability themes, renewable energy in particular. Read more.