East Stone Acquisition today filed a proxy and preliminary prospectus outlining terms of its proposed merger with green mobility tech company ICONIQ.
The $2.5 billion deal was announced in April. Since then the SPAC has secured $400 million in PIPE financing to supplement its cash in trust.
The SPAC has also called an Aug. 22 meeting for shareholders to vote on whether to grant the SPAC a deadline extension. East Stone said it needs more time to finalize the ICONIQ deal.
ICONIQ is based in Dubai.
East Stone raised $100 million in a February 2020 IPO. Read more.
