The SPAC in an amended proxy filing said that if shareholders approve a deadline extension on a merger, for each month of the extension if the daily volume weighted average price of the company’s common stock for any 10 consecutive trading days in the prior month falls below $11.40 per share, Trident will deposit 5 cents into trust for each public share of common stock that has not redeemed. Trident has an LOI with Lottery.com and has said in earlier filings it needs more time to iron out the deal. Read more.
Trident Amends Proxy to Sweeten Share Value for Non-Redeemers Ahead of Extension Vote
