AGBA Acquisition in a regulatory filing said Nasdaq will continue listing its stock so long as the SPAC’s secures shareholder approval for a merger by Oct. 31 and closes the deal by Nov. 14.
A Nasdaq rule requires SPACs to close a deal within 36 months of their IPO. AGBA’s IPO was back in May 2019.
AGBA last month won shareholder approval for a 7th deadline extension — until Aug. 16. The SPAC has a merger agreement in place with TAG Holdings Limited, which is engaged in B2B and fintech through its subsidiaries. The transaction is an all-stock deal with an enterprise value of $555 million. Read more.
