Maquia Capital Acquisition in an 8-K said shareholders approved moving the SPAC's completion deadline to Aug. 7. The vote was 5,609,503 shares cast in favor of the new deadline, with 23,541 opposed.
Maquia has a merger agreement with Immersed, a provider of enterprise ai productivity solutions that use spatial computing and virtual reality to transform work environments.
In connection with the vote to approve the extension proposal, Maquia said 93,402 shares were redeemed.
The proposed business combination gives VR-focused Immersed an implied pre-money enterprise value of $150 million. Maquia has lost more than 80% of its trust to redemptions on extension votes over the last year and a half. The SPAC raised raised $160 million in a May 2021 ipo. Read more.