Greencity Acquisition today said the company’s sponsor, Cynthia Management, has deposited $133,334 — representing $0.033 per public share — into the SPAC’s trust to extend the deadline for completing a business combination by one month to Aug. 28. Greencity trades on the Nasdaq under GRCY.
The sponsor plans to extend the deadline up to eight additional times as necessary, each by one month, up to April 28, 2022, by depositing an additional $1,066,666 into the SPAC’s trust account, representing an additional $0.267 per share.
The SPAC intends to focus on businesses that have a connection to the Asian market. Read more.
