The Growth for Good Acquisition Corporation (NASDAQ: GFGD) announced in a press release today that it has once again adjourned its special meeting, marking the third postponement for shareholders to vote on the SPAC’s combination with EV-maker ZeroNox.
Initially scheduled for August 23, the meeting has now been pushed back until September 1 at 10:00 am ET.
The Growth for Good did not disclose why today’s meeting was adjourned, but, during the first postponement, it noted that it was working through certain agreements for the subscription of shares in a PIPE financing. The SPAC was able to use those extra few days to secure a $5 million PIPE for its combination from investors including trailer and tractor-makers Premier and Kubota as well as Formula-E racing team NIO 333.
The two parties inked the $306 million deal earlier this year in March and have a completion deadline of September 14. Porterville, California-based ZeroNox manufactures electric drivetrains for a wide range of off-highway vehicles like golf carts, forklifts and all-terrain vehicles.
The combined company is expected to trade on the Nasdaq under the symbol “ZNOX” once the deal is completed.
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