Nova Vision Acquisition said its sponsor deposited $69,763.37 into trust (4.5 cents a share), to extend its deadline to May 10. The SPAC issued a promissory note to the sponsor in the principal amount.
Nova Vision has a merger agreement with Real Messenger, a platform for real estate transactions. The completion deadline on the deal was recently extended to July 31.
The SPAC raised $57.5 million in an IPO two years ago, although redemptions since then have reduced the cash in trust to about $16.4 million. Nova Vision is seeking to raise $20 million from a PIPE to support the Real Messenger transaction.
Terms call for Real Messenger to receive 5 million shares. Read more.
