Deep Medicine Acquisition said $1,265,000 (10 cents a share) has been deposited into the company’s trust account, which enables the SPAC to extend its merger deadline from Oct. 29 to Jan. 29, 2023. This is the first of two three-month extensions permitted under Deep Medicine’s governing documents.
Deep Medicine Acquisition in September terminated a merger agreement with China-based Chijet Motor Company. No reason was given in the SPAC’s regulatory filing disclosing the termination, although Deep Medicine had twice extended the time period for its due diligence on the EV automaker. The deal was announced in July. Read more.
