Soon to enter its third year after a July 2020 IPO, East Resources Acquisition filed a preliminary proxy in which it seeks a merger deadline extension.
The SPAC raised $300 million in an IPO nearly two years ago. East Resources was launched with the intention of targeting North American energy companies. The SPAC is led by Terrence Pegula, CEO, president and chairman. In 2010, he sold assets of East Resources to Royal Dutch Shell for $4.7 billion. In 2014, he was the majority owner of assets sold by HG Energy to American Energy Partners for $1.75 billion.
The prospectus calls for a deadline extension from July 27 until Jan. 27. No other business is scheduled to be conducted at the meeting and a vote date was not included in the preliminary prospectus. Read more.
