byNordic Acquisition announced that it intends to adjourn, without conducting any business, the previously announced stockholders meeting originally set for Aug. 8, and will reconvene to consider an extension vote Aug. 10.
The redemption deadline has been extended to Aug. 8 at 5 p.m. Eastern.
The SPAC wants to push its deadline from Aug. 11 to Feb. 12, 2024, with the option of extending the termination date in monthly increments thereafter to August 2024 without another shareholder vote.
If approved, shareholders in return would see the lesser of $625,000 or 24 cents a share deposited into trust. This represents an increase of $25,000 (6 cents a share) from the previously announced amount of $600,000 and 18 cents a share, respectively.
If the deadline is extended beyond February 2024, the monthly deposit into trust would be the lesser of $105,000 or 4 cents a share. These amounts also represent an increase from $100,000 and 1 cent per share, as previously announced.
The SPAC raised $172.5 million in a February 2022 IPO to focus on high technology growth companies in the northern part of Europe. Read more.
