ION Acquisition 3 in a preliminary proxy asks shareholders to aspprove liquidation of the SPAC and redemption of shares ahead of the current May 4, 2023 termination date. The SPAC intends to hold the vote before the end of the year, although a precise date was not set in the proxy.
ION 3 said it will be unable to complete a merger by the current deadline.
The SPAC raised $220 million in an April 2021 IPO “to focus on the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives,” according to the S-1 filing.
The SPAC is sponsored by an affiliate of ION Asset Management Ltd. Read more.
