Spree Acquisition 1 in an 8-K said shareholders approved a deadline extension that pushes the SPAC’s termination date from March to Dec. 20, 2024 to find and close a deal.
The SPAC said 2,371,801 Class A shares were redeemed, leaving 2,810,702 shares (consisting of 1,864,987 publicly held Class A shares and 945,715 Class A ordinary shares underlying private units), along with 5 million Class B ordinary shares outstanding.
The extension does not include additional contributions to the trust account. “Instead, the Sponsor will utilize its cash towards optimizing its efforts for a successful business combination for Spree,” the SPAc said in an earlier proxy filing.
Spree 1 in August called off a deal with taxi operator zTrip.
The SPAC has been focused on technology-based mobility businesses. The SPAC raised $175 million in an IPO two years ago. Read more.
