Maquia Capital Acquisition in a regulatory filing said its sponsor will boost a planned loan contribution to the trust of 4.5 cents a share, up from 3.33 cents a share. The announcement comes on the eve of a shareholder vote on whether to extend the SPAC’s merger deadline until May 2023.
Maquia noted that shareholders who ride out the extension, if it were to last the full six months, stand to receive a redemption amount per share of approximately $10.62 if the SPAC is unable to close a deal, in comparison to the current redemption or liquidation amount of $10.35 per share.
The SPAC said Monday that it is “working diligently” toward a merger agreement with a target in the fintech sector. Read more.
