Seaport Calibre Materials Acquisition today in an 8-K said it had secured an agreement with an investor to not redeem 150,000 shares of common stock ahead of tomorrow’s shareholder vote on a deadline extension. The investor, in return, will receive up to 37,500 sponsor shares, according to the filing.
The SPAC’s termination deadline is Wednesday, but the company wants shareholder approval to extend the deadline to Aug. 1.
Seaport raised $130 million in an October 2021 IPO to focus on businesses in the steel, metals, and metals processing sector. Read more.
