Global Partner Acquisition II in an 8-K disclosed its intent to enter into non-redemption agreements ahead of a Jan. 9 extension vote. The proposal would allow the sponsor to transfer 170,000 founder shares to support any NRA the SPAC might secure.
If the extension is approved, the SPAC’s new deadline would be July 14.
The SPAC in mid-September announced plans to redeem shares and liquidate, but the board reversed that decision two weeks later.
A deadline extension approved in early 2022 prompted redemptions that wiped out approximately $265 million in the SPAC’s trust, or close to 87%.
The SPAC in its January 2021 IPO filing said it would focus on acquiring a technology-driven business in consumer, e-commerce, and retail disruption. Read more.
