LatAmGrowth SPAC said today’s shareholder meeting to vote on early liquidation has been pushed to Oct. 5.
Rather than run out its Nov. 27 deadline, the SPAC wants shareholder approval to wind up the day after the vote, although why it is waiting another week to hold the vote remains unclear. News reports speculate management behind the scenes may be looking to sell the sponsor’s stake to a new team.
LatAmGrowth raised $130 million in a January 2022 IPO with plans to focus on high-growth companies in Latin America, including Brazil, as well as businesses in the United States that cater to the Hispanic community. The SPAC never announced a deal.
The SPAC still holds about $58.6 million in trust after losing 56.9% of its shares to redemptions in a previous extension. Read more.
