Investcorp Europe Acquisition I filed a proxy in which it asks shareholders to grant a deadline extension from March 17 to Dec. 17.
Although the sponsor has the option of securing an automatic three-month extension by depositing $3.45 million into trust, the SPAC said its sponsor “has no intention” of exercising that option.
As a result, the matter will be put to a shareholder vote.
Investcorp Europe said it has signed a ltter of intent with a potential target, but won;t be able to close a deal by the current deadline.
The SPAc raised $300 million in a December 2021 IPO to focus on companies engaged in business services, consumer and lifestyle, niche manufacturing and technology in the United Kingdom, Northern Europe and, opportunistically, in Turkey. Read more.
