Kingswood Acquisition said shareholders overwhelmingly approved a merger deadline extension that now gives the SPAC until May 24, 2023, to complete its deal with Wentworth Management Services, a broker-dealer aggregator.
The SPAC added that $69,218.35 was deposited into trust in consideration for the first month of the extension. Wentworth has agreed to deposit that amount into the SPAC’s trust for every month necessary to complete the deal up to the new deadline. Read more.
