Generation Asia I Acquisition in a regulatory filing said shareholders voted in favor of moving the SPAC’s deadline to July 23, 2025. The SPAC is obligated to deposit $35,000 into trust for each month used during the new extension period.
Redemptions of $59.8 million in stock removed 69% of the cash in trust.
The SPAC said 2,422,500 Class B shares have been converted into Class A shares on a 1-for-1 basis.
Generation Asia I originally raised $200 million in a January 2022 IPO and has not yet announced a deal. The TMT-focused SPAC has been targeting companies across Asia, excluding China, Hong Kong and Macau. Read more.
