Everest Consolidator Acquisition filed a proxy seeking a deadline extension up to Feb. 28, 2024 in monthly increments. The SPAC said it needs the additional time to complete its proposed acquisition of Unifund Financial Technologies, which specializes in the acquisition and servicing of consumer debt receivables and offers consumer data analytics and tailored recovery solutions for major banks, financial institutions and other creditors across the United States.
Announced in May, the deal has an enterprise value of $238 million and a $40 million minimum cash condition to close.
Everest Consolidator also said it would not use trust funds to pay for any excise tax on redeemed shares.
A vote date on the extension proposal has not yet been published. The SPAC’s current termination date is Aug. 28. Read more.
