Pegasus Digital Mobility Acquisition today announced that holders of 2,195,855 Class A shares exercised their redemption rights ahead of a successful vote to push its merger deadline to Dec. 31. After accounting for the redemptions, the SPAC holds $53.7 million in trust, according to a press release.

Pegasus has a deal pending with Germany-based Gebr. SCHMID GmbH, a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries.

Terms of the extension call for monthly deposits of $150,096.54 (3 cents a share).

Pegasus Digital raised $200 million in an October 2021 IPO. 

The SPAC said in April that redemptions ahead of an earlier extension vote removed more than $160 million from the trust, leaving just over $75 million at that time. Read more.

Source: Pegasus Digital Wins Extension as Redemptions Bite Deeper into Trust