Acropolis Infrastructure Acquisition in an 8-K said it entered into non-redemption agreements with several unaffiliated third parties in exchange for them agreeing not to redeem 1.3 million shares through an upcoming extension vote. The SPAC seeks to push its termination deadline back from July 13 to Oct. 13, or to July 13, 2024 if the SPAC signs a letter of intent for a deal by the current deadline.
In exchange for holding the stock, participating investos would receive 325,000 sponsor shares.
At the meeting a separate proposal, if approved, would give the SPAC board authority to wind up early and liquidate.
Acropolis raised $300 million in an IPO nearly two years ago. The SPAC has been focused on companies in infrastructure, infrastructure services and related sectors in North America, though it has yet to announce a deal. Read more.
