Pearl Holdings Acquisition Inks LOI

Pearl Holdings Acquisition in an 8-K said it signed a letter of intent with an unnamed for a potential business combination. With an LOI in hand, under Pearl's governing documents the SPAC can now take an automatic three-month extension, until Sept. 17, with the potential to push the deadline as far back as Dec. 17 without need for a shareholder vote.

Pearl last month filed a proxy seeking to to extend its merger deadline from June 17 to June 2024. 

The SPAC raised $175 million in a December 2021 IPO.

The SPAC's main focus is on a target business in global consumer-focused industries, including companies that participate in the lifestyle, technology, and wellness sectors. Read more.

Source: Pearl Holdings Acquisition Inks LOI