Prime Number Acquisition I today said deposits equal to 4.5 cents a share would be made monthly into the trust acount if shareholders approve a deadline extension May 15 that would give the SPAC until November to complete a deal.
Prime Number I initially offered 6 cents a share per monthly extension.
The SPAC in December announced plans to merge with EV battery technology developer Noco-Noco at a valuation of $1.35 billion. Noco-Noco is a development-stage manufacturer of carbon-zero electric vehicle battery technologies.
There is a minimum $20 million cash condition to close the deal.
Prime Number I raised $64.5 million in an IPO a year ago. Read more.
