Bellevue Life Sciences Acquisition in a proxy filing asks shareholders to vote for a deadline extension up to May 14, 2024. The first extension period would run from Nov. 14 to Feb. 14, 2024, with an additional three months available after that date.
If approved, the SPAC’s sponsor would deposit $180,000 for the first three months of the extension period, then the lesser of $60,000 or 2.6 cents a share for each of the remaining three months.
Bellevue Life Sciences Acquisition in July signed an exclusive, non-binding letter of intent with OSR Holdings. The goal was to complete a business combination in the fourth quarter. The LOI is still in place, according to the extension-vote proxy, although there was no word on when or whether it would move toward a definitive merger agreement.
The target is a global healthcare holding company.
Bellevue raised $69 million in a February IPO. The biotech-focused SPAC was formed by Bellevue Capital Management. Read more.
