AGBA Acquisition announced today that its sponsor deposited $546,991.05 (representing 15 cents per share), into its trust account to secure a deadline extension of three months. The new deadline is Feb. 16.
This is the SPAC’s fifth deadline extension, coming on the heels of last week’s announcement that it plans to merge with fintech Tag Holdings at a $555 million enterprise value.
AGBA issued a promissory note to the sponsor equal to the amount deposited. The promissory note bears no interest and is convertible into the company’s units. Read more.
