Ross Acquisition II called a March 6 shareholders meeting to vote on a proposed deadline extension from March 16 to Sept. 16.
Shareholders approved the last six-month extension in September 2023, but redemptions erased 21% of the trust. About $54.2 million remains in the SPAC’s trust. The need for that extension arose from the termination in August of a $320 million merger agreement with Hong Kong-based APRINOIA Therapeutics.
APRINOIA this week registered for an IPO that would raise $24 million at the midrange of the share pricing.
Ross Acquisition II is sponsored by Ross Holding Company, an affiliate of Wilbur L. Ross (the commerce secretary under former President Donald Trump), Stephen J. Toy, and Nadim Z. Qureshi. The SPAC raised $300 million three years ago, initially to target companies engaged in EVs, renewable energy and tech. Read more.
