Model Performance Acquisition yesterday convened and immediately adjourned a shareholder meeting, which was postponed until Dec. 28 when investors will be asked to vote on the SPAC's proposed merger with Hong Kong-based MultiMetaVerse. The target is sole owner of Shanghai Mi Ting Culture and Creativity Co.

The SPAC raised $57.5 million in an April 2021 ipo. About 61% of shares in Model Performance had been tendered for redemption through September, according to earlier regulatory filings.

Model Performance disclosed last month that it had entered a $12 million pipe subscription agreement with Prominence Investment Management in support of the merger. 

The deal has a minimum $20 million cash condition to close. Read more.

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Source: Model Performance Acquisition Pushes Back Vote on MultiMetaVerse Deal to Next Week