Dune Acquisition stockholders voted in favor of a deadline extension until Dec. 22, although the SPAC said in a regulatory filing that redemptions of $160.7 million in stock left approximately $11.8 million in trust, or about 7% remaining.
The extension became necessary following the collapse in April of Dune’s proposed merger with TradeZero. The SPAC filed a lawsuit against TradeZero, claiming the brokerage platform duped the SPAC’s management into a $556 million reverse merger before “trying to run out the clock on the transaction” and stick the blank-check company with the substantial cost of calling it off. Read more.
