Pegasus Digital Mobility Acquisition called an April 22 meeting for shareholders to vote on the SPAC’s proposed merger with Gebr. Schmid Group, a global solutions provider for the high-tech electronic, photovoltaics, glass, and energy systems industries.
Terms call for 28.725 million shares to be issued to Schmid shareholders.
Pegasus has an April 30 deadline to complete the deal.
Ahead of a successful extension vote in December, the SPAC had said 503,201 shares were redeemed for about $5.55 million. That left 4,500,017 shares outstanding, or about $49.6 million. The Pegasus board last month approved more than 2.8 million Class B shares for use as incentives in non-redemption agreements.
Pegasus Digital originally raised $200 million in an October 2021 IPO. Read more.
