Pearl Holdings Acquisition in an 8-K said it signed a letter of intent with an unnamed target for a potential business combination. With an LOI in hand, under Pearl’s governing documents the SPAC can now take an automatic three-month extension, until Sept. 17, with the potential to push the deadline as far back as Dec. 17 without need for a shareholder vote.
Pearl last month filed a proxy seeking to to extend its merger deadline from June 17 to June 2024.
The SPAC raised $175 million in a December 2021 IPO.
The SPAC’s main focus is on a target business in global consumer-focused industries, including companies that participate in the lifestyle, technology, healthcare and wellness sectors. Read more.
