Three Singapore-listed SPACs are facing a ticking clock to announce their outcomes. Listed on the Singapore Exchange (SGX) in early January 2021, the three SPACs -– Vertex Technology Acquisition, Pegasus Asia and Novo Tellus Alpha Acquisition — have not made any formal announcements.
The three blank-check firms must announce a business combination agreement or request a deadline extension soon to meet the timeline. As of Sept 13, none have made any public statements, and declined to comment to The Edge Singapore for its report.
A spokesperson at SGX says it has been actively engaging market professionals and sponsors over the last 12 months on their de-SPAC preparatory work for the upcoming business combinations. The three SPACs are expected to make at least some sort of announcement by the end of September, conscious of the January 2024 timeline. Read more.
