Home Plate Acquisition Adjourns Extension Vote Until March 30

Home Plate Acquisition announced that it convened and then adjourned, without conducting any business, its stockholders meeting. The meeting will now be held at 10:30 a.m. Eastern Time March 30, when shareholders are expected to vote on a deadline extension that would give the SPAC until Oct. 4 to complete a deal.

Home Plate last week announced a merger agreement with Heidmar, a commercial and pool management business servicing the crude oil and refined petroleum product tanker market. The deal has an implied equity value of $261.4 million.

Net proceeds from the transaction are expected to include the targeted minimum cash raise of $55 million, in a combination of an expected PIPE and trust cash, as well as existing cash on Heidmar's balance sheet.

The SPAC raised $200 million in an October 2021 IPO with plans at that time to acquire and manage a business in the FinTech and Embedded Finance sectors, including payments, digital assets, consumer finance, and other related areas. Read more.

Source: Home Plate Acquisition Adjourns Extension Vote Until March 30