Abri SPAC I in a proxy filing called a Dec. 9 meeting for shareholders to vote on a merger deadline extension that would give the SPAC until August 2023 to complete its deal with DLQ, a provider of digital consumer acquisition solutions and wholly-owned subsidiary of Logiq. The current deadline expires Feb. 12, 2023. In return for a favorable vote on the extension, Abri I has agreed to deposit $87,500 into trust for each extra month required to complete the transaction.
If the deal is ultimately approved by the SPAC’s shareholders, upon closing the combined company is expected to list on the Nasdaq under the name DataLogiq. At $10 per Abri share, the valuation of DLQ is $114 million.
Announced in September, the transaction had been expected to close in the first quarter of 2023.
DLQ, Inc. is a U.S.-based provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising. It provides data-driven, end-to-end marketing.
Abri in July terminated a deal with blockchain tech company Apifiny by mutual agreement. Read more.
