Goal Acquisitions in a proxy filing wants another deadline extension to complete its deal with Digital Virgo, a mobile entertainment network. The meeting is set for Aug. 14. If approved, the proposal would move the deal deadline to Aug. 17, with further extensions as necessary “on a day-by-day basis, with the ability to extend up to seven days at a time in advance,” for a maximum of 90 days, the proxy states.
Goal Acquisitions' shareholders in February approved a merger extension of up to six months. At that time, the SPAC said 9,546,357 public shares remain outstanding with approximately $97 million remaining in trust.
While the February press release announcing the extension did not disclose redemption figures, Goal had raised $225 million in a February 2021 IPO.
Terms with Digital Virgo include approval for listing on the Nasdaq, European electronic money institution approvals, a minimum of $20 million in cash at closing, and the execution of definitive agreements for a $100 million committed capital-on-demand facility.
The target is a French corporation which operates a global platform for payment and monetization of digital content and services, providing one destination for entertainment, sports, lifestyle, and ultimately, transportation, education and everyday needs. Read more.
Source: Goal Acquisitions Asks Shareholders for Another Extension on Digital Virgo Deal