Maquia Capital Acquisition in an 8-K said it signed a non-redemption agreement with one or more unaffiliated third parties who’ve agreed to hold onto 247,883 shares through today’s deadline extension vote.
The fintech-focused SPAC wants to push its Sunday deadline back to Feb. 7, 2024.
In return for holding their investments, the parties to the non-redemption agreement would receive 79,323 shares held by the sponsor.
Shareholders back in November approved the extension that expires at the end of this week, although redemptions at the time erased 80% of the SPAC’s trust. Maquia held about $37 million in trust following those redemptions. Read more.
