Evergreen Corp. said it adjourned a May 1 meeting until May 9 when shareholders are expected to vote on another extension proposal. If approved, the measure would give the SPAC until Feb. 11, 2025 to find and complete a deal.
If the extension is approved, the sponsor has agreed to deposit into the SPAC’s trust the lessser of $80,000 or 3 cents a share for each month required.
Evergreen is broadly focused on the technology sector in the ASEAN region, though it has yet to announce a deal. The SPAC raised $100 million in a February 2022 IPO. Read more.
