Pegasus Digital Mobility Acquisition said stockholders approved another dealine extension, giuving the SPAC until July 26 to complete a deal.
one more extension is available that would push the deadline to Dec. 26.
Pegasus' sponsor will deposit $719,907.30 into trust for the latest extension by April 26, representing 10 cents a share.
The SPAC said redemptions totaling 15,300,927 shares removed more than $160 million from the trust, leaving just over $75 million.
Pegasus Digital raised $200 million in an October 2021 IPO. The SPAC is targeting the next-generation transportation sector. Read more.
Source: Pegasus Digital Mobility Acquisition Extends Deadline as Redemptions Take a Big Bite