Iconic Sports Acquisition in an 8-K said about 22.2 million shares have been redeemed ahead of tomorrow's deadline extension vote. The SPAC sold 30 million shares in its ipo.
Iconic wants to move the current April 26 deadline back to July 26.
Redemptions can be reversed up until 10 a.m. April 20, the SPAC said in the filing.
The SPAC raised $300 million in an October 2021 IPO. Iconic Sports intends to acquire a business in the global sports industry or an adjacent sector including data and analytics, media and technology. Read more.
Source: Iconic Sports Loses More Than Two-Thirds of Trust to Redemptions Ahead of Extension Vote