Black Mountain Acquisition said its stockholders approved a merger extension from April 18 to June 18. The measure further allows the SPAC without another stockholder vote to extend the termination date up to six times in monthly increments, provided $160,000 is deposted into trust for each extension period. That amount works out to 4 cents a share.
Black Mountain raised $240 million in an October 2021 IPO to focus on the energy value chain. Read more.
