Atlantic Avenue Acquisition late yesterday adjourned its stockholders meeting without conducting a planned vote on a merger deadline extension. No reason was given for the delay.
The meeting has been rescheduled to Oct. 4. As a result, the redemption deadline has also been extended — to Sept. 30 at 5 p.m. Eastern.
Atlantic Avenue seeks a deadline extension from Oct. 6 up to April 6, 2023, which would become the new liquidation date if the SPAC fails to close a deal.
The SPAC was reportedly in merger talks with prison phone operator Securus Technologies a year ago, but nothing materialized.
Atlantic Avenue Acquisition was formed by MC Credit Partners targeting the business and consumer-related sectors. The company raised $250 million in an October 2020 IPO. The company, formerly named Atlantic Street Acquisition, is led by CEO and Chairman Ashok Nayyar, co-founder, managing director, and CIO of MC Credit Partners. Read more
