First Light Acquisition Group in a preliminary proxy filing seeks shareholder approval of a merger deadline extension from Sept. 14 to Dec. 14. The SPAC said in the filing it is in discussions with potential targets, but will nto be albe to sel a deal by the current deadline.
The proposal would also authorize the SPAC to extend its deadline three more times for three months each, provided the sponsor deposits an amount equal to 1% of the trust for each additional extension. If First Light signs a merger agreement during the first extension, the remaining extensions would automatically be authorized without additional deposits into the trust.
First Light raised $230 million in an IPO last September with plans to target companies that provide technology-enabled solutions with high-growth, mission-critical applications in government and commercial markets.
First Light is led by CEO, President and Chairman William Weber, who most recently served as president, CEO and director of KeyW. Read more.
