Jupiter Wellness Acquisition announced today that its stockholders meeting originally scheduled for April 20 has been postponed to May 2, when a vote is expected on whether to merge with Chijet, a china-based EV maker
As a result of the change, the redemption deadline has been extended to April 28, while redemption reversals may be requested up until the meeting.
Announced in October, the deal values Chijet's operating companies at $1.6 billion.
Jupiter Wellness is not the first SPAC to attempt taking Chijet public.
Jupiter's deal announcement came less than a month after another SPAC, Deep Medicine Acquisition, called off a merger with the EV maker. That deal was valued at $2.6 billion when announced last July. No reason was given for the termination, although Deep Medicine had twice extended the time period for its due diligence on the EV automaker. Read more.
Source: Jupiter Wellness Acquisition Postpones Chijet Merger Vote to May 2