AlphaTime Acquisition in a press release said it convened and adjourned yesterday’s shareholder meeting to consider an extension, and will reconvene tomorrow at 1 p.m. Eastern. This is the second delay following an adjournment last week.
The SPAC wants to extend its completion deadline up to 10 times from Jan. 4, 2024 to Jan. 4, 2025, with the first extension comprised of three months, and the remaining nine covering one month each. If approved, the sponsor has agreed to deposit $55,000 into trust for each month required.
AlphaTime raised $69 million in a January IPO. The SPAC is broadly focused on companies in Asia, and the management team has an extensive network in China, according to the initial S-1 filing for the offering. Read more.
