Welsbach Technology Metals Acquisition today said it has approved an extension on its merger deadline — to June 30.
The SPAC has a deal in hand with WaveTech. This is the fourth extension since the deal was announced in November. WaveTech specializes in next-generation battery-enhancing technologies.
Redemptiuons ahead of an extension vote in March wiped out more than half the SPAC's trust. Welsbach now has about $37.7 million in trust. At deal announcement, the WaveTech acquisition carried a pro forma enterprise value of $228 million. Read more.