DUET Acquisition said stockholders approved the first of up to nine one-month deadline extensions — from April 24 to May 24 — as its sponsor deposited $175,000 into trust.
Further extensions require a monthly deposit of the lesser of $175,000 or 5.5 cents a share.
After redemptions of $37.2 million, DUET will have approximately $52.4 million left in trust.
DUET earlier this month called off a merger agreement with Anteco Systems, S.L (dba AnyTech365), which is engaged in IT security and support. The $287 million deal was announced last July. The SPAC said it will forge on in pursuit of another acquisition.
DUET raised $86.25 million in a January 2022 IPO to focus on disruptive change-maker technology enterprises that are capitalizing on the digital shift. Read more.
