Atlantic Avenue (NYSE:ASAQ) announced this afternoon that it intends to adjourn its special meeting on September 29 to October 4.
The special meeting was being held to consider the proposal of amending and extending ASAQ’s transaction deadline by which it must complete its initial business combination. The SPAC, however, did not give further details as to why the meeting was adjourned.
ASAQ’s current deadline is October 6, 2022, but, the SPAC, which is a 24 month IPO, is seeking to extend that deadline on a monthly basis for up to six times to April 6, 2023.
In connection with the adjournment of the extension meeting, Atlantic Avenue is also extending the deadline for holders of its Class A common stock to exercise their right to redeem their shares to September 30.
Atlantic Avenue announced the pricing of its $250 million IPO in October 2020 and intends to partner with a target that is poised for growth in an industry undergoing secular change through a meaningful technological transformation.
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