Spree Acquisition 1, which raised $175 million in an IPO two years ago, filed a proxy today seeking shareholder approval for a deadline extension to December 2024 from the current March termination date.
The proposal does not include additional monthly contributions to the trust account. “Instead, the Sponsor will utilize its cash towards optimizing its efforts for a successful business combination for Spree,” the proxy states.
The SPAC in August called off a deal with taxi operator zTrip.
Spree has been focused on technology-based mobility businesses.
Chairman and CEO Eran (Rani) Plaut founded several tech companies in the mobility space, where he holds chief executive officer and executive board member positions. Since August 2019, Plaut serves as co-founder and CEO of Polarity, the developer of an electric VTOL aircraft. Read more.
