EdtechX Holdings Acquisition II filed a proxy supplement in which it said the SPAC’s sponsor will pour up to $100,000 into the trust for every month it takes the SPAC to complete a deal. That will be put to a June 2 shareholder vote. The SPAC seeks an extension until Dec. 15.
EdtechX earlier this week announced a merger agreement with zSpace, a provider of commercial augmented reality (“AR”) and virtual reality (“VR”) technology in the global education market. The business combination implies a pro forma enterprise value of $195 million.
The SPAC raised $100 million in a December 2020 IPO with the goal of acquiring an education technology business. Read more.