Nocturne Acquisition announced that today's previously scheduled shareholder meeting is postponed to Feb. 6, when the SPAC's investors will vote on a proposed merger with Cognos Therapeutics. The meeting will be held virtually at 10 a.m. Eastern.
Nocturne said it will continue to solicit proxies from shareholders during the extended period before the meeting.
The redemption deadline has also been extended to two business days prior to the new meeting date.
Cognos specializes in drug delivery devices for brain and spinal cancers, neurodegenerative disorders (such as Alzheimer's and Parkinson's disease), epilepsy, and stroke.
Cognos CEO Frank Adell in a letter to shareholders earlier this month noted that the SPAC still holds about $20 million in trust, while the parties are working to secure additional funding via a pipe. He projected the deal would close by the end of February or early March, pending shareholder approval.
Nocturne raised $100 million in a March 2021 ipo with plans at that time to focus on targets bringing to market disruptive technologies in the blockchain/crypto and artificial intelligence technology sectors. Redemptions in the nearly three years since have eroded the SPAC's cash in trust. Read more.