Enphys Acquisition in a proxy filing asks shareholders to extend its deadline until Dec. 8, which would mark 38 months since the closing of its IPO.
If approved, the SPAC’s sponsor agrees to deposit the lesser of $50,000 or 2 cents a share — up to $300,000 — into trust for each month up to the new deadline. Enphys held just over $68 milllion in trust as of May 15.
The SPAC announced last August it had signed a letter of intent for a deal with a Latin American biofuels company, but there has been no further news.
Enphys originally raised $345 million in an October 2021 IPO with plans to target businesses predominantly operating in Ibero-America and whose strategy is aligned with energy transition and sustainability themes, renewable energy in particular. Read more.
