The Growth for Good Acquisition Corp. (NASDAQ: GFGD) has decided to push back its completion vote, originally scheduled for August 23, until 10:00 a.m. ET on August 28.
The SPAC stated that it is working through certain agreements for the subscription of shares in a PIPE financing upon the completion of its contemplated business combination with off-highway EV-maker ZeroNox. The Growth for Good did not originally supplement the deal with additional committed financing and has managed to avoid redemptions thus far with $253 million in its current trust.
In connection with the postponed meeting date, Growth for Good has also extended the redemption deadline to 5:00 p.m. ET on August 24.
The two parties inked the $306 million deal earlier this year in March. 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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