Golden Arrow Merger Holds $20M Out of an Initial $250M Raise as Extension Vote Looms

Golden Arrow Merger in an 8-K said it has retained approximately $20 million in its trust account following the redemption deadline in connection with tomorrow's extension vote. The SPAC wants to move the deadline back to Dec. 19.

To date, 26,764,835 shares have been redeemed. Assuming no changes before the extension vote, if it is approved the SPAC will have 1,985,165 shares outstanding.

Shareholders may withdraw redemptions with the company's consent at any time until the vote is taken at 11 a.m. tomorrow.

Golden Arrow raised $250 million in an two years ago to focus on or healthcare-related infrastructure industries in the United States and other developed countries. Read more.

Source: Golden Arrow Merger Holds M Out of an Initial 0M Raise as Extension Vote Looms