Goal Acquisitions' shareholders approved a merger deadline extension of up to six months as the SPAC works to complete its deal with Digital Virgo, a mobile entertainment network.
More than 89% of shareholders voted in favor of the extension, the SPAC said, while 9,546,357 public shares remain outstanding. Goal expects to have approximately $97,029,243 remaining in trust.
While the 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 Wins Deadline Extension on Digital Virgo Deal