Coliseum Acquisition in an 8-K said its sponsor sold its interest in the company to Berto LLC, an affiliate of Harry L. You. The sale covered 2,625,000 Class B shares and 2,257,500 warrants for an aggregate purchase price of $1 plus the acquirer’s agreement to advance funds to the SPAC for its deadline extension.
Colisuem won shareholder approval to move its temination deadline to June 2024 in monthly increments, so long as the sponsor deposits the lesser of $100,000 or 4 cents a share into trust for each monthly extension up to the new deadline.
The SPAC raised $150 million in an IPO two years ago to target consumer product, service and media companies at the intersection of sports, entertainment, digital media and/or technology. Read more.
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