North Atlantic Acquisition Postpones Extension Vote

North Atlantic Acquisition announced that its shareholders meeting scheduled for Jan. 24 has been postponed until Jan. 25 at 4 p.m. Eastern.

The SPAC is asking to vote in favor of a deadline extension from Jan. 26 to July 26.

North Atlantic warned in November that it might liquidate, then reversed course as management decied to forge onward in search of a deal.

The SPAC raised $383 million in January last year. 

North Atlantic in July terminated a merger agreement with TeleSign, saying at the time that it intended to seek an alternative business combination. 

The SPAC is led by Chairman Andrew Morgan, whose 27-year career at Diageo, one of the largest alcoholic beverage companies in the world, included managing the acquisition of global brands. He held a lead role in the acquisition and global integration of The Seagram Company by Diageo and Pernod Ricard for $8.15 billion in 2001. Read more.

Source: North Atlantic Acquisition Postpones Extension Vote