Valuence Merger I announced that this morning’s shareholder meeting to vote on a deadline extension has been postponed until 5 p.m. Eastern.
Shareholders may withdraw redemptions at any time until the vote is taken, the SPAC said. The vote was pereviously postponed on May 30.
Valuence wants to stretch its runway up to March 3, 2026.
The company also said today it entered into a non-redemption agreement with a shareholder who will not redeem 300,000 shares and in return will receive $75,000 in cash.
The SPAC lost more than two-thirds of its shares outstanding to redemptions in connection with the last extension vote a year ago.
Valuence I completed a $200 million IPO in March 2022. Since then, it has focused on life sciences targets based in Asia, though excluding China, Hong Kong and Macau. The SPAC has yet to announce a deal. Read more.
