Maquia Capital Acquisition in a regulatory filing said the shareholders meeting originally schedule for tomorrow has been postponed on Thursday, when shareholders will be asked to vote on a merger deadline extension. The SPAC wants to extend its termination deadline by six months to May 7, 2023.
Maquia’s sponsor had pumped $1.7 million (10 cents a share) into the SPAC’s trust in August for the current extension that runs out Nov. 7.
Additionally, the SPAC’s sponsor intends to indemnify Maquia of any responsibility for a 1% excise tax that may be levied on shares redemmed after Dec. 31, according to the filing.
In a separate press release, the SPAC also disclosed today that it is “working diligently” toward a merger agreement with a target in the fintech sector.
Maquia is targeting technology-focused middle market and emerging growth companies in North America. The SPAC raised $160 million in a May 2021 IPO. Read more.
