Greencity Acquisition said today that its shareholders voted in favor of extending the SPAC’s merger deadline from April 28 until Oct. 28.
The holders of 3,575,801 shares present, constituting 99.98% of ordinary shares present, voted in favor of the extension, according to a news release.
The SPAC’s sponsor, Cynthia Management, said last July that it would seek to extend the deadline up to eight times until April 28 for the SPAC to complete a merger, by depositing up to approximately $1.1 million into the trust account, representing an additional $0.267 per public share.
The Shanghai-based SPAC is focused on businesses that have a connection to the Asian market. Greencity has a market cap of about $55.23 million on the Nasdaq. Read more.
