Ceres Acquisition said it has extended its merger deadline to Dec. 16, following shareholder approval.
The SPAC reported redemptions of 468,997 shares (approximately 35% of shares outstanding), leaving about $8.55 million in escrow.
This is the third deadline extension for Ceres, which in October terminated a deal with Parallel, a cannabis operator backed by record executive Scooter Braun.
The SPAC raised $120 million in a March 2020 IPO.
The previous deadline extension three months ago saw redemptions reach 10,677,201 Class A Restricted shares, wiping out about $107 million from the SPAC’s trust. Read more.
