Rosecliff Acquisition I, which raised $220 million in a February 2021 IPO, in a proxy filing said it will ask shareholders for another 12 months to identify a merger target and complete a deal. That would push the deadline back to Feb. 17, 2024.
Rosecliff had said it plans to pursue “high growth technology and tech-enabled businesses domestically in industries that are being disrupted by advances in technology and on technology paradigms.”
The SPAC in March scrapped a merger agreement with Gett, a corporate ground transportation management technology platform. Gett, for its part, said it would withdraw from the Russian transportation and delivery market permanently. Russia represented a minority share of Gett’s business (less than 14% in direct gross quarterly profit).
Since then, the SPAC has been relatively quiet, filing only mandated quarterly reports. Read more.
