Yotta Acquisition in a proxy filing says it wants to extyed its merger deadline in monthtly increments up to 12 times until April 2024. The SPAC’s current charter permits management to extend from the current April deadline until July for a deposit into trust of $1.15 million.
This would be Yotta’s second extension following announcement in October of a merger agreement with seafood company NaturalShrimp.
The $275 million deal would provide the target $175 million in stock, plus another $100 million in stock if the combined company hits certain revenue goals over the next two years. Read more.
