Black Mountain Acquisition said its sponsor has deposited another $160,000 into trust to cover a one-month extension to Aug. 18.
The SPAC’s shareholders approved a measure in April for an extension until June with the option to push the deadline back another six months without another vote. In return, the sponsor is to deposit $160,000 for each extension period, which works out to 4 cents a share.
Black Mountain raised $240 million in an October 2021 IPO to focus on the energy value chain. Read more.
