Welsbach Technology Metals Acquisition said shareholders approved a deadline extension of up to nin months, which would give the SPAC until June 30, 2024 to seal a deal. There will be no additional contributions to the trust as part of the extension, according to a press release.
Welsbach in June of this year called off a merger with WaveTech Group by mutual agreement.
Redemptions ahead of an extension vote in March wiped out more than half the SPAC’s trust. Welsbach as of June had about $37.7 million in trust.
The SPAC raised $75 million in a December 2021 IPO. Read more.
