Zalatoris Acquisition in an 8-K said shareholders voted in favor of moving the SPAC's completion deadline to Nov. 14. In return, the sponsor will deposit $100,000 a month into trust.

Zalatoris said 3,465,997 shares were redeemed at $10.67 each, or approximately $37 million. Following the payout of redemptions, the SPAC will have approximately $31.75 million in trust..

Zalatoris has a deal to merge with Anteco Systems (dba AnyTech365) at a $220 million enterprise value. Founded in 2014 and based in Marbella, Spain, the target develops ai powered IT security systems.

The deal was originally expected to be completed in the first quarter. Terms call for stockholders of the target to receive approximately $138.37 million in shares at closing, and approximately $7.28 million will be placed in escrow. Read more.

Source: Zalatoris Wins Extension, Though Redemptions Devour More Than Half the Trust