Alphavest Acquisition said it adjourned its shareholder meeting until 1:30 p.m. today to consider a one-year extension. The SPAC seeks shareholder approval to extend its deadline up to four times in three-month increments until December 2024. The meeting convened yesterday “and adjourned in order to solicit additional votes,” the SPAC said.
AlphaVest in August announced a business combination agreement with Wanshun Technology Industrial Group, primarily a peer-to-peer marketplace for on-demand ride hailing services in China. The transaction would be structured as a business combination with the SPAC’s wholly-owned subsidiary, AV Merger Sub, and is anticipated to result in shareholders receiving Wanshun capital stock valued at approximately $300 million.
AlphaVest raised $60 million in a December 2022 IPO. Read more.
