PMV Consumer Acquisition in a regulatory filing said its shareholders approved a merger deadline extension until September 2023. The extension was conditioned on the deposit of 200,000 shares of Class B common stock, which will convert into Class C common stock, into the SPAC’s trust.
Redemptions on the vote wiped out nearly $155 million of PMV’s cash in trust, leaving about $20.5 million.
The SPAC raised $175 million in a 2020 IPO to target companies in the consumer industry with enterprise valuations in the range of $200 million to $3.5 billion.
Chairman and CEO P. Kasper Jakobsen previously served as CEO and president of Mead Johnson Nutrition, a global consumer company focused on infant and child nutrition, from 2013 until leading its sale to Reckitt Benkiser PLC in 2017. Read more.
