TortoiseEcofin Acquisition III in an 8-K said shareholders voted in favor of extending the SPAC’s deal deadline with One Energy until Oct. 22.
The SPAC said 1,744,889 shares were redeemed, or about 7%.
The SPAC last August announced a merger agreement with One Energy, a vertically integrated industrial power solutions company. The deal has an implied pre-money enterprise value of $300 million.
The TortoiseEcofin III sponsor has agreed to deposit 1.5 cents a share into trust per month for shareholders’ benefit folowing approval of the extension. Read more.
