Americas Technology Acquisition in a regulatory filing said its sponsor has deposited $413,765.80 into the SPAC’s trust to extend its merger deadline until Dec. 17.
About $416,000 remains on a promissory note should the SPAC require additional time beyond December to close a pending deal with transportation tech platform Rally.
Announced earlier this month, the transaction values Rally at pro forma enterprise value of $208 million.
If approved, the combined entity will be renamed Rally Mobility and list on the NYSE under the symbol RLLY.
The aggregate value of shares to be issued to Rally stockholders at closing is expected to be approximately $165 million. Rally stockholders may also receive up to an additional 4.5 million shares if the company hits certain revenue and share price targets during the post-closing earnout period. Read more.
