Foresight Acquisition in an 8-K filing today disclosed that merger partner P3 Health agreed to cut the mimimum cash requirement for their merger to $200, down from the $400 in the original deal.
The SPAC acknowledged that redemptions ahead of the merger vote, which was postponed last week, prompted the move. So far, 7.9 million shares have been tendered for redemption, according to the filing.
Foresight also pushed back the rescheduled merger vote from this Wednesday to Dec. 3 to allow more time for filing supplemental proxy information. Read more.