FTAC Emerald Acquisition in a proxy filing wants shareholders to apprve a deadline extension until Jan. 19, 2024. The SPAC called a Sept. 14 meeting to vote on the matter.
FTAC had faced a termination deadline in June, but just before it was due to expire the SPAC announced it had signed a letter of intent for a merger with an unnamed target. That automatically extended the SPAC’s runway to Sept. 20.
There has been no further announcement regarding the LOI.
Led by SPAC veteran Betsy Cohen, FTAC Emerald raised $220 million in a December 2021 IPO. Read more.
