Greencity Acquisition Shareholders Grant Merger Deadline Extension 

Deadline

Greencity Acquisition said today that its shareholders voted in favor of extending the SPAC’s merger deadline from April 28 until Oct. 28.

The holders of 3,575,801 shares present, constituting 99.98% of ordinary shares present, voted in favor of the extension, according to a news release.

The SPAC’s sponsor, Cynthia Management, said last July that it would seek to extend the deadline up to eight times until April 28 for the SPAC to complete a merger, by depositing up to approximately $1.1 million into the trust account, representing an additional $0.267 per public share.

The Shanghai-based SPAC is focused on businesses that have a connection to the Asian market. Greencity has a market cap of about $55.23 million on the Nasdaq. Read more.

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