SPACInsider Logo
Maquia Capital (MAQC) Adjourns Extension Vote
by Marlena Haddad on 2022-11-03 at 8:46am

Maquia Capital  (NASDAQ:MAQC) announced this afternoon that it intends to adjourn its special meeting today, November 3, to Friday, November 4.

The special meeting was being held to consider the proposal of amending and extending MAQC’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, but an extra day does give Maquia time to try and convert some shareholders who previously submitted requests to redeem.

MAQC’s current deadline is November 7, 2022, but, the SPAC, which is a 12 month IPO from May 2021 with a 6 month auto extension, is seeking to extend that deadline to May 7, 2023 or to an earlier date as determined by the board of directors.

While Maquia has yet to sign a definitive agreement, the SPAC announced just a few days ago that it is working diligently with a high-growth target in the fintech sector toward a business combination. The company expects to announce additional details regarding the currently proposed business combination over the next months in the event of the execution of an agreement.

As of yesterday evening, Maquia has received requests to redeem a total of 14,781,810 shares of common stock, representing 82.61% of MAQC outstanding shares, but these may be withdrawn at any time prior to the meeting.

Maquia Capital announced the pricing of its downsized $160 million IPO in May 2021 and initially set its sights on combining with a technology-focused middle market and emerging growth company in North America.


Recent Posts
by Nicholas Alan Clayton on 2022-12-09 at 11:56am

Better World (NASDAQ:BWAC) has entered into a definitive agreement to combine with Heritage Distilling at an enterprise value of $122.2 million. Gig Harbor, Washington-based Heritage produces craft whisky, vodka, rum, gin, and canned cocktails, which it sells primarily through casinos and its owned tasting rooms in the Pacific Northwest. The combined company is expected to...

by Marlena Haddad on 2022-12-09 at 11:44am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Southland awarded $70M contract for Denver International Airport expansion project, and Bakkt reduces 15% of employee base Southland Awarded $70 Million Denver International Airport West Gates Pond Expansion Project Southland Holdings, LLC (“Southland”)...

by Marlena Haddad on 2022-12-09 at 11:09am

Altitude Acquisition Corp. (NASDAQ:ALTU) announced this morning that it has signed a non-binding letter of intent (LOI) to combine with a global medical device manufacturer. The SPAC originally teased this deal on October 4, the same day as its redemption deadline, when it announced it was in negotiations to sign a LOI with the medical device...

by Marlena Haddad on 2022-12-09 at 9:48am

InterPrivate II (NYSE:IPVA) disclosed this morning that its shareholders have approved its business combination with car-sharing marketplace Getaround during a special meeting held on Wednesday, December 7. The combined company raised approximately $228 million in gross proceeds through the deal, including the amounts retained in InterPrivate II’s trust account, the conversion of approximately $37.5 million of...

by Marlena Haddad on 2022-12-09 at 9:35am

10X Capital Venture Acquisition Corp. III (NYSE:VCXB) included in an 8-K this morning that it has signed a non-binding letter of intent (LOI) to combine with Sparks Energy. Sparks is a leader in storm response and energy restoration management with qualified crews for overhead and underground distribution, transmission, substation and row operations. However, the 8-K mainly...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved