Blue World Acquisition today announced that its shareholder meeting originally scheduled for tomorrow has been postponed until May 2, which is the SPAC’s termination date.
Shareholders will be asked at the resceduled meeting to vote on a proposal that would extend Blue World’s deadline to FEbruary 2024, if necessary, in nine monthly increments.
The SPAC said the vote delay will give it more time to engage with shareholders.
Blue World also announced that if the extension is approved, for each monthly extension it will deposit 2.95 cents a share into trust. This is a downward adjustment from the initial proposal for 3.5 cents a share.
The SPAC raised $92 million in a February 2022 IPO. Blue World is targeting the marine leisure, cruise, marine infrastructure and engineering, general hospitality, travel and tourism, marine services, logistics and supply chain, offshore energy solutions and related industry segments. Read more.
