Union Acquisition II in an 8-K filing today said it will contribute 12 cents per share to every share not redeemed at the upcoming stockholders meeting to vote on the SPAC’s request for a deadline extension.
Shareholders at the April 16 meeting will vote whether to extend the SPAC’s merger deadline to Oct. 22 from April 22.
Union II last month entered a merger agreement with Crynssen Pharma Group, Procaps Group, and OZLEM. Union II would acquire Colombia-based Procaps Group, an international healthcare and pharmaceutical company, for $300 million in cash, including a $100 million PIPE
If shareholders approve, the deal is expected to close in the third quarter. Read more.
