FC Barcelona and Mountain & Co. I Acquisition amended their business combination agreement to lower the minimum proceeds condition to €40 million, according to an 8-K.
The agreement previously called for the SPAC to deliver at least €50 million in cash.
Spanish soccer club FC Barcelona plans to list its digital unit Barca Media on the Nasdaq through the SPAC deal. FC Barcelona would keep an 80% stake in Barca Media, while the SPAC would own the remaining 20%.
The amended agreement also removes FC Bacelona’s unilateral termination right if funding of €40 million has not been received or committed by Dec. 31.
The SPAC has a Nov. 9 deadline to complete an acquisition. Redemptions ahead of the current extension approved in February removed approximately $113 million from the SPAC’s trust, leaving about $128 million. Read more.
