Papaya Growth Opportunity I filed a proxy and set an April 12 meeting date for shareholders to vote on the SPAC's proposal for a deadline extension until Oct. 19 in monthly increments.

If approved, the sponsor in return would deposit the lesser of $325,000 or 3.25 cents a share into the Papaya I trust for each one-month extension.

No other business is slated for the meeting, according to the proxy.

Papaya Growth I raised $250 million in a January 2022 IPO with plans to search for a target business operating in the software, internet, media, fintech, healthcare IT or consumer industry sectors and to focus on vertical solutions driven by AI, marketplaces, platforms and networks. Read more.

Source: Papaya I Calls Shareholder Meeting to Vote on 6-Month Extension