PHP Ventures Acquisition in a proxy filing seeks to move its deal deadline to Aug. 16, 2024. If approved, the new deadline would mark the three-year anniversary of the SPAC’s IPO.
The SPAC has a merger agreement with Modulex Modular Buildings, a UK-based, globally focused “ConstrucTech” manufacturer of modular buildings. At announcement last December, the deal was valued at $600 million.
Since then, PHP Ventures has lost about 71% of its trust to redemptions on an extension vote in December. The current extension runs out in mid-August. Read more.
