A day after announcing a terminated deal and plans to dissolve, Plum Acquisition I in an 8-K reversed course and said it will forge on for at least another month.
The SPAC said following yesterday’s liquidation announcement, it “was approached with an opportunity to explore a business combination with another operating company.”
Plum’s board discussed the merits of the opportunity, deciding to extend the SPAC’s deadline for another month until July 18.
Plum disclosed yesterday that it had received a deal termination notice from merger partner Sakuu, a battery manufacturer. That prompted the initial decision to redeem stock and shut down.
Plum I raised $300 million in a March 2021 IPO. Read more.
