BlueRiver Acquisition in an 8-K filing disclosed that 26,738,255 shares have been presented for redemption ahead of today’s shareholder vote on a deadline extension. Based on the estimated redemption price of $10.63, that erases $284 million of the $292 million the SPAC held in trust.
Blue River shareholders are set to decide today whether to approve a deadline extension from Feb. 2 until Aug. 2. The results of that vote have not been released as of late this afternoon.
The SPAC in an 8-K last week said it had entered a non-redemption agreement with an investor who will hold onto 200,000 shares when the SPAC’s stockholders vote on a deadline extension proposal that would give BlueRiver until August to seal a deal. In return, the SPAC will give the non-redeeming investor 50,000 shares.
In a separate regulatory filing, BlueRiver also said it has signed a non-binding letter of intent with a target in the medical technology sector. Read more.
