Mountain & Co. I Acquisition filed a proxy calling a March 8 meeting for shareholders to vote on a deadline extension to Nov. 9. The SPAC said it needs the additional time to work on finanizing its deal with Spanish soccer club FC Barcelona, which plans to list its digital unit.
The parties in October lowered the minimum proceeds condition to €40 million. The agreement initially called for the SPAC to deliver at least €50 million in cash.
FC Barcelona plans to list its digital unit Barca Media on the Nasdaq through the SPAC deal. FC Barcelona would keep an 80% stake in Barca Media, while the SPAC would own the remaining 20%.
The redemption price per share is approximately $11.40, based on the $131.3 million in trust as of Feb. 22. Read more.
