Social Leverage Acquisition I shareholders approved a deadline extension from today until Feb. 17, 2024, giving the SPAC nine more months to complete a deal. Social Leverage has an agreement in hand with W3BCLOUD, which provides storage and compute infrastructure to power Web3’s decentralized economy.
The SPAC last month hacked the pro forma enterprise value from approximately $1.25 billion to $700 million. The deal was announced in August and has been extended three times since.
In an 8-K filing the SPAC said redemptions totalling $967,741.89 left $15,836,806 in the trust account, while 1,557,134 shares of Class A common stock remain issued and outstanding.
Social Leverage raised $300 million in a February 2021 IPO. Read more.
