Bellevue Life Sciences Acquisition said shareholders approved a merger extension to Nov. 14 so the SPAC can continue to work on completing a deal with OSR Holdings, a global healthcare holding company. Bellevue’s sponsor has agreed to deposit $50,000 into trust for each month requied up to the new deadline.
The deal was announced in November. Peter Kuk Hyoun Hwang is CEO of both companies.
The SPAC said 1,581,733 shares (about 28% of shares outstanding) were tendered for redemption. Heading into the vote, there were 5,622,954 shares outstanding.
The SPAC lost about 38% of its trust to redemptions on an extension vote late last year. Bellevue had raised $69 million in a February 2023 IPO. Read more.
