Z-Work Acquisition in a definitive proxy set a Dec. 8 meeting for shareholders to vote on shutting down the SPAC. The current termination date is Feb. 2, 2023. Management in the filing said they will be unable to close a deal before the deadline.
If approved, the SPAC would be able to liquidate before a 1% excise tax on stock redemptions goes into effect in January.
The work technology-focused SPAC raised $200 million in a January 2021 IPO. Read more.
