Model Performance Acquisition said it deposited $575,000 (10 cents a share) into its trust to extend its merger deadline with MultiMetaVerse from July 12 to Oct. 12.
MultiMetaVerse in January agreed to loan the SPAC up to $2.75 million to extend the combination period for up to two times for an additional three months each.
On March 29 the SPAC used $575,000 of the loan amount for the first extension.
Model Performance raised $57.5 million in an April 2021 IPO. The merger deal is further supported by a $10 million PIPE at $10 per share. Read more.
