EDOC Acquisition set a Feb. 9 meeting for shareholders to vote on whether to extend the SPAC’s merger deadline until Aug. 12 from the current Feb. 12. A definitive proxy on the matter was filed with the SEC after the market close yesterday.
The SPAC raised $90 million in a November 2020 IPO with stated plans to target healthcare companies in North America and Asia-Pacific. Shares were trading this afternoon at $10.26, up almost 2% over the last six months.
The upcoming vote is for the SPAC’s second deadline extension request and, if it is not approved, EDOC will liquidate. The SPAC’s sponsor may opt to deposit another $900,000 in the trust account as an incentive for a favorable vote on the extension, but is not obligated to do so, according to the filing. Read more.
