Blockchain Coinvestors Acquisition I in an 8-K said it postponed a shareholders meeting to consider an extension vote. Originally scheduled for Friday, the meeting has been rescheduled for Oct. 27 at 11:30 a.m. Eastern. The SPAC said it needs more time “to allow additional time for BCSA “to engage with its shareholders and consider redemption reversals.”
Blockchain Coinvestors I raised $300 million in an upsized November 2021 IPO, although redemptions since then have left it with about $39 million in trust as of June 30, according to a 10Q filing.
The SPAC seeks shareholder approval to move its completion deadline from Nov. 15 to May 15, 2024.
The SPAC has a pending deal with crypto fintech Qenta, announced in November last year at an enterprise value of approximately $622 million. Read more.
