Qomolangma Acquisition in a proxy filing seeks shareholder approval to reduce its monthly deposit for deadlines extensions to the lesser of $20,000 or 3.3 cents a share. The current extension policy calls for monthly deposits in the lesser amount of $80,000 or 3.3 cents a share.
The SPAc raised $50 million in a September 2022 IPO. Since its public float, the SPAC has been focused on businesses in the Asian market, including China, with an enterprise value between $300 million and $500 million. Read more.
