ShoulderUp Technology Acquisition, which raised $300 million in a November 2021 IPO, today filed a proxy in which it seeks a meger deadline extesnion from May 19 to November 19.
The SPAC’s charter allows for a three-month extension past the current May deadline, but only if $3 million is deposited into trust, according to the proxy. If shareholders approve moving the goalposts back to November, no additional deposit would be required.
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