New Vista Acquisition in a press release said Friday's shareholder meeting to consider an extension has been postponed to Feb. 15. The cutoff date for redemptions is now Feb. 13.
The SPAC wants to extend its deal deadline by a full year, to February 2024.
New Vista also announced that, if the extension is approved, its sponsor has agreed to make monthly deposits to the SPAC's trust account of $200,000 up to $2.4 million.
The SPAC on Feb. 1 said it had signed a nonbinding letter of intent for a business combination with Verijet, which provides private aviation services as the largest fleet operator of Cirrus Vision jets. The company operates 19 jets in the Northeast, Southeast and West Coast.
Led by Dennis Muilenburg, Boeing's CEO from 2015 to 2019, the SPAC was reportedly in deal talks with Canadian airline Flair last fall, although nothing came from those discussions.
The SPAC raised $240 million in a February 2021 IPO. Read more.
Source: New Vista Acquisition Pushes Extension Vote Back to Next Week