Evergreen in an 8-K said shareholders approved pushing the SPAC’s completion deadline for up to nine months. The SPAC’s new deadline is Feb. 11, 2025.
In return for the extra time, the sponsor will deposit the lesser of $80,000 or 3 cents a share into trust for for each one-month extension.
The SPAC said 2,831,713 shares were redeemed going into the vote (about 38%). Evergreen lost about $80.6 million to redemptions on an extension vote last July. That left 7,495,670 shares outstanding going into the latest vote.
Evergreen is broadly focused on the technology sector in the ASEAN region, though it has yet to announce a deal. The SPAC originally raised $100 million in a February 2022 IPO. Read more.
