Zalatoris II Acquisition in an 8-K said it arranged for the deposit of $100,000 into trust to extend its merger deadline to March 3. This is the seventh of 12 monthly extensions available to the SPAC, which has a deal in hand with Eco Modular.
The target is a SmartTech Modular Manufacturing company based in the uk, Ireland, and Eastern Europe.
Announced in December, the deal is expected to provide a minimum of $66 million in net proceeds after transaction expenses. The deal has a pro forma market capitalization of approximately $666 million, assuming a $10 per share price and no redemptions.