Inception Growth Acquisition in a proxy seeks shareholder approval to push its termination date from Sept. 13 to June 13, 2024.
If approved, the SPAC’s sponsor in return would deposit the lesser of $100,000 or 4 cents a share into trust for each month required under the new extension.
Inception Growth in June said it had signed a binding letter of intent for a merger with AgileAlgo Pte Ltd., a maker of enterprise-grade natural language code generator for machine-learning and data management platforms. There has been no further announcement regarding that potential deal and AgileAlgo is not mentioned in the SPAC’s proxy for an extension.
Inception Growth raised $90 million in a December 2021 IPO, with plans at that time to target businesses in the United States or Asia (excluding China) with a focus in the technology, media and telecom (TMT), sports and entertainment, and/or non-gambling gaming sectors. Read more.
