Edoc Acquisition postponed a shareholder meeting originally scheduled for today at 10 a.m., pushing the meeting back to 8 p.m.
Shareholders are expected to vote formally on a proposed deadline extension. While the SPAC in a press release said a sufficient number of Edoc’s shareholders have voted to approve the extension, the meeting postponement is needed to satisfy all conditions necessary to effect the extension.
Edoc has been granted two extensions dating to last November. Following the last one, in February, redemptions of 6,326,758 shares left 5,477,242 shares outstanding.
Edoc has a merger agreement with Calidi, a clinical-stage biotechnology company developing cell-based delivery of oncolytic viruses. The SPAC has commitments for a $25 million PIPE that would close concurrently with shareholder approval of the deal, plus backstop arrangements for the purchase of up to 2.2 million shares.
In May the SPAC lowered the aggregate value of the consideration to Calidi from $400 million to $380 million. Read more.
