Model Performance Acquisition yesterday convened and immediately adjourned a shareholder meeting, which was postponed until Dec. 28 when investors will be asked to vote on the SPAC’s proposed merger with Hong Kong-based MultiMetaVerse. The target is sole owner of Shanghai Mi Ting Culture and Creativity Co.
The SPAC raised $57.5 million in an April 2021 IPO. About 61% of shares in Model Performance had been tendered for redemption through September, according to earlier regulatory filings.
Model Performance disclosed last month that it had entered a $12 million PIPE subscription agreement with Prominence Investment Management in support of the merger.
The deal has a minimum $20 million cash condition to close. Read more.
