GX Acquisition said if shareholders agree to extend the date by which GX must complete its initial business combination until July 31, the SPAC will deposit 2.5 cents per share for every month of the extension, up to 5.65 cents a share.
A vote on the matter is set for May 14.
The SPAC said it needs additional time to close the pending $372 million acquisition of Celularity, a clinical-stage biotechnology company. Read more.
