TMT Acquisition said its March 22 shareholders meeting was adjourned without voting on an extension measure, which was the main item of business. The SPAC said it needs to solicit additional votes.
The meeting has been adjourned to March 28 at 2 p.m. Eastern.
The SPAC wants to move its deadline back to Dec. 30 as it works to finalize a $450 million merger with eLong Power.
The target is a provider of high power battery technologies for commercial and specialty vehicles and energy storage systems. Announced in December, the deal had been expected to close in the first half of 2024.
Huizhou Yipeng Energy Technology is the operating entity of eLong Power. Upon closing of the merger, the combined company is expected to be listed on the Nasdaq. Read more.
