Oxus Acquisition today adjourned a shareholders meeting for an extension vote, pushing the measure back to 8:30 a.m. Thursday.
Oxus last week announced a merger agreement with food technology company Borealis, but the SPAC wants to push its completion date from March 8 to Dec. 8 to get the deal done.
Terms call for Borealis' equity holders to be paid $150 million in rollover equity subject to adjustment.
The proposed transaction will require approval of both Oxus and Borealis shareholders, and is expected to close during the third quarter.
Oxus raised $152.25 million in a September 2021 ipo. Read more.
Source: Oxus Postpones Extension Vote