Jaws Mustang Acquisition said it convened and then adjourned yesterday’s shareholder meeting without conducting any business. The meeting is expected to reconvene Feb. 2 at 10:30 a.m., Eastern when shareholders are slated to vote on a deadline extension from Feb. 4 to March 4.
The SPAC earlier this week said 1,023,321 shares were redeemed in connection with the latest extension proposal.
Jaws Mustang a year ago disclosed that nearly 102 million shares were redeemed ahead of a shareholder vote on an earlier deadline extension — out of about 103.5 million shares that remained outstanding at the time. Jaws Mustang raised $900 million in a February 2021 IPO to focus on businesses in North America and Europe “that have a clear path to organic and inorganic growth, formidable barriers to entry, exceptional management, and strong underlying demand drivers.”
The sponsor now expects to convert 25.5 million Class B shares into public shares on a one-for-one basis. Read more.
