Nova Vision Acquisition said its sponsor has deposited $75,030.26 (4.16 cents a share) into trust so the SPAc may have until April 10 to complete a deal. The company issued a non-interest bearing promissory note to the sponsor with a principal amount equal to the deposit.
The note balance is convertible into the SPAC’s units at $10 each.
Nova Vision can continue the extensions as needed until August with monthly deposits in the same amount as the latest.
The Asia-focused SPAC raised $57.5 million in an August 2021 IPO to target opportunities in the PropTech, FinTech, ConsumerTech, Supply Chain Management industries or technology companies that serve these or other sectors. Read more.
