BlueRiver Acquisition in an 8-K said Friday’s shareholder meeting to consider a deadline extension has been postponed until July 28 at 10 a.m. Eastern.
As a result, the cutoff for redemptions has been moved to July 26.
The SPAC wants to push its Aug. 2 deadline to Feb. 2, 2024. If approved and if management opts to run the extension until next February, it would mark more than three years since the SPAC’s IPO.
BlueRiver in March transferred its stock listing from the NYSE to the NYSE American. The decision to step down to the NYSE American followed heavy redemptions of the SPAC’s Class A common stock in connection with a January vote to push its merger deadline until the current date in August. Based on the estimated redemption price of $10.63, the SPAC lost $284 million of the $292 million it held in trust ahead of that vote.
Also in January, BlueRiver said it had signed a non-binding letter of intent with a target in the medical technology sector, although there has been no further announcement on that potential deal. Read more.
