LF Capital Acquisition II in an 8-K said today’s stockholder meeting to consider a deadline extensaion has been postponed until June 26 to allow the SPAC “additional time to engage with shareholders.”
LF Capital II wants to move the termination date from Aug. 19 to Nov. 19. This follows shareholder approval in February of an extension to the current August deadline.
The SPAC has said it entered into a non-binding letter of intent with a target company, a US-based manufacturer in the packaging industry with a blue-chip customer base subject to multi-year contracts. No further announcement has been made on those discussions; in the original proxy outlining the latest extension plan, the SPAC said only that it needed the extra time to close a deal.
The trust currently holds about $120.2 million, according to the proxy.
The SPAC raised $258.75 million in a November 2021 IPO to target companies with a disruptive business model in the financial technology or services, technology, digital asset or consumer sectors. Read more.
