Battery Future Acquisition in a filing said shareholders approved moving the SPAC’s completion date to June 17, 2025. The vote had been postponed three times while Battery Future worked to secure redemption reversals.
All told, 1,487,474 Class A shares were redeemed going into the extension vote, leaving 3,683,125 shares outstanding. The SPAC now holds just over $41 million in trust or approximately $11.18 per share.
Battery Future last month announced a $135 million deal with Class Over. The target, founded in 2020 and headquartered in New York, has emerged as a player in the educational technology sector, specializing in interactive online live courses for K-12 students both domestically and internationally.
The SPAC raised $300 milion in a December 2021 IPO, initially to focus on industries spearheading the shift from fossil fuels to electrification, including companies in the battery value chain. Read more.
