Northern Revival Acquisition convened its shareholder meeting yesterday, but adjourned due to “technical difficulties on the telephone connectivity,” according to an 8-K. The meeting was to be reconvened today at 2 p. m. Eastern, when shareholders are expected to vote on an extension that would give the SPAC until Feb. 4, 2024 to complete a merger.
Northern Revivial has a deal in hand with Braiin Limited, an agricultural company based in Australia. Announced in March, the deal is valued at $215 million.
Northern Revival, formerly Noble Rock Acquisition, raised $241.5 million in a February 2021 IPO. The SPAC in January of this year sold sponsor control to Meteora Special Opportunity Fund i, GenGlobal Noble and Singh Capital Partners.
The SPAC is now down to about $25 million cash in trust following redemptions in the 2 1/2 years since its float. Read more.
