Belong Acquisition in a press release said its Dec. 14 meeting for shareholders to vote on a termination extension has been pushed back to Dec. 21. The SPAC wants a deadline extension from Jan. 27 to July 27, 2023.
The tech-focused SPAC raised $150 million in a July 2021 IPO to target high-growth technology and tech-enabled businesses in sectors such as e-commerce, software, and digital media.
The SPAC in an 8-K filing also disclosed it had entered into a non-redeem agreement with an investor who would receive 100,000 Class B shares in exchange for supporting the extension proposal and holding onto their investment.
Additionally, Belong Acquisition said it has entered into an exclusive, non-binding letter of intent for a business combination with a target in the plant-based foods industry. The target is said to be a profitable, diversified North American platform with over $50 million in revenue. Read more.
