FoxWayne Enterprises Acquisition announced that its stockholder meeting originally scheduled for today has been postponed until Dec. 13.
At the meeting, stockholders will be asked to vote on a business combination extension from Jan. 22 to April 22. A favorable vote would also allow the SPAC without another stockholder vote to extend the deadline again to July 22 for a total of up to six months after the original termination date.
FoxWayne wants more time to close its deal with Clover, a live streaming company focused on Gen Z and Millennial audiences and creators.
Transaction terms call for FoxWayne to issue 15.745 million shares of its common stock, or approximately $157.45 million. Current Clover stockholders will convert 100% of their existing equity into common stock of the combined company and will own a majority of the outstanding shares post-closing. Read more.
