Blockchain Coinvestors I (NASDAQ:BCSA) announced this afternoon that it has postponed its shareholder meeting to extend its transaction deadline.
The meeting, which was originally scheduled for January 18, will now take place at 11:30 a.m. ET on January 27 to allow BCSA additional time to engage with shareholders and solicit redemption reversals. As a result of the postponement, the redemption deadline has also been extended to January 25.
Blockchain Coinvestors I inked its $633 million deal with crypto fintech firm Qenta in November 2022, but is currently facing a completion deadline of May 15. The SPAC is hoping to gain shareholder approval at its meeting next week to extend its transaction timeline by 6 months to November 15.
The SPAC announced the pricing of its upsized $261 million IPO in November 2021. Blockchain Coinvestors I is led by Managing Director and Chair of the Board James Matthew Le Merle, Managing Director and CEO & Director Lou Kerner, and Managing Director Alison Davis.
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