Abri SPAC I today announced that it will allow stockholders who redeemed shares to reverse their decision by 5 p.m. today.
The SPAC won an extension on its termination deadline from Feb. 12, 2023 up to Aug. 12, in monthly increments, with a deposit of $87,500 for each one-month extension. Abri I said it needs the extra time to complete its deal with DLQ, a provider of digital consumer acquisition solutions and wholly-owned subsidiary of Logiq.
However, the SPAC was hit with redemptions for 4,931,548 shares at $10.20 each ahead of the extension vote. There are 802,372 non-redeemed shares remaining, Abri said.
DLQ, Inc. is a U.S.-based provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising. It provides data-driven, end-to-end marketing.
Abri in July terminated a deal with blockchain tech company Apifiny by mutual agreement. Read more.
