Priveterra Acquisition II (formerly Tastemaker Acquisition) said it adjourned today’s special meeting on an extension vote in order to provide additional time to engage with the company’s stockholders. The meeting will be reconvened tomorrow at 3 p.m. Eastern.
The SPAC last week had postponed the extension vote until today and announced a change in management.
The SPAC’s current termination deadline is July 12. If the extension proposal is approved, the SPAC would have until Jan. 12 to find and close a deal, contingent on the sponsor depositing the lesser of $60,000 or 3 cents a share into trust for every month required.
The SPAC raised $276 million in a January 2021 IPO with stated plans at the time to focus on the restaurant, hospitality, and related technology and services sectors. Redemptions since then have eroded the trust considerably. Read more.
