Mountain & Co. I Acquisition in an 8-K said shareholders have approved a merger deadline extension until Nov. 9. The SPAC also signed a promissory not for a loan of up to $3.78 million from its sponsor. That would trust deposits of $420,000 for each month required under the extension.
Redemptions ahead of the extension vote erased approximately $113 million from the SPAC’s trust, leaving about $128 million.
The SPAC raised $200 million in a November 2021 IPO to focus on the consumer internet and B2B digital infrastructure sectors. Read more.
