Gobi Acquisition in a definitive proxy statement called a July 22 meeting at which time shareholders will be asked to vote on changing the SPAC’s merger termination date from July 1, 2023 to the date of the vote — effectively triggering liquidation of the SPAC. A second proposal on the ballot calls for the liquidation to begin on July 22.
The goal, the SPAC said in the filing, is to enable shareholders to redeem their investments without waiting another 12 months to do so while earning minimal interest. Gobi also reserved the right to abandon a vote to liquidate if the boatrd decides against it before the meeting in just over two weeks.
The SPAC’s sponsor is an affiliate of PAG, one of Asia’s largest private investment management groups with approximately $40 billion AUM. PAG owns a majority of the SPAC’s shares. Read more.
