DiamondHead Holdings in an 8-K said it has postponed a shareholder vote until March 23 on the proposed merger with Great Southern Homes. The vote was originally scheduled for tomorrow.
The SPAC did not give a reason for the delay, but noted that redemptions “may be withdrawn at any time.”
Announced in October and assuming no redemptions, the transaction is expected wto deliver approximately $320 million in cash proceeds, net of transaction costs, as well as a $25 million commitment to purchase and not redeem DHHC public shares from the DHHC sponsor group, including Antara Capital.
Great Southern Homes is a residential construction company. Read more.
