Consumer brand focused bleuacacia in an 8-K said its sponsor has received and is considering a number of offers for the purchase of a portion of its ownership interest in the SPAC.
“While our board of directors has not approved any of these offers and we cannot assure you that any of these transactions will occur on the proposed terms or at all, certain of these offers, if consummated, could result in a change in our ownership (including, in certain cases, a potential change in control of the company, and involve other economic and governance changes, including board designation rights in favor of the potential purchaser and the replacement of certain directors on the board,” the filing states.
In a separtate proxy filing, the SPAC called a Dec. 26 meeting for shareholders to vote on an extension proposal that, if apporved, would push the deadline from February to Nov. 22, 2024.
In addition, the SPAC is contemplating the elimination of a stock vesting provision involving sponsor shares.
bleuacacia raised $240 million in a November 2021 IPO. The SPAC has said its focus is specifically on “acquisitions of global high-growth premium consumer-facing brands that have a powerful emotional engagement with millennial and Gen-Z consumers.” Read more.
