HHG Capital in a regulatory filing said shareholders approved extending the SPAC’s merger deadline by up to 12 months until Sept. 23, 2023. In return, the SPAC agreed to deposit 1.55 cents a share into its trust for the first month.
HHG said 2,393,594 ordinary shares were tendered for redemption in connection with the extension vote, leaving $34.1 million in trust. That amount includes the extension payment.
The SPAC raised $50 million in a September 2021 IPO.
The SPAC has not publicly identified specific sectors it may target for an acquisition, but has excluded targets in China. HHG is based in Singapore. Read more.
