Cartica Acquisition is asking shareholders to approve an extension that would move the SPAC’s deadline from April 7 to Jan. 7, 2025. A vote is scheduled for April 3.
Last July, shareholders cashed out 18,785,585 shares for approximately $200.9 million, or $10.69 per share, essentially wiping out the trust. In June 2023, just before the extension vote, the sponsor converted 4.75 million Class B shares into the same number of Class A shares.
The SPAC held $46.68 million as of March 1, according to the latest filing.
Cartica originally raised $200 million in a January 2022 IPO with plans to focus on a business combination with an India-based technology firm. Read more.
