Alberton Acquisition in a proxy statement filing asks shareholders to approve a merger deadline extension from Oct. 26 until April 26, 2022. A shareholder vote is set for Oct. 22.
To sweeten the deal, the SPAC said it will deposit 10 cents a share into the trust account for each month of the extension, based on a commitment from merger partner SolarMax. Shareholders approved the last deadline extension in April.
The deal was announced almost a year ago.
SolarMax is an integrated solar energy company founded in 2008 to conduct business in the U.S. It subsequently began operations in China following two acquisitions in 2015. Read more.
