Battery Future Acquisition filed a proxy and called a May 17 meeting for shareholders to vote on an extension proposal that would give the SPAC until June 17, 2025 to complete a deal.
On the April 30 record date, the SPAC had 13,795,599 ordinary shares outstanding, including 5,170,599 outstanding public shares.
Battery Future since its $300 million IPO in 2021 has been focused on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain. Redemptions since the IPO have removed nearly half the cash in trust.
Battery Future in Jnauary sold its sponsor economics to Pala Investments, which took control of the SPAC. Pala bought 4,193,695 Class B shares. Read more.
