BlueRiver Acquisition Corp. (BLUA) Postpones Extension Vote
by Marlena Haddad on 2023-07-19 at 5:48pm

BlueRiver Acquisition Corp. (NYSE:BLUA) announced in an 8-K this afternoon that it has postponed its extension vote from July 21 to July 28 at 10 a.m. ET.

As a result, the SPAC will also extend the redemption deadline to July 26.

As of now, BlueRiver faces a completion deadline of August 2, 2023, but is hoping to gain shareholder approval at the upcoming meeting to extend this until February 2, 2025.

Although the company is technically still searching for a target to combine with, it announced in January that it entered into a non-binding letter of intent with a business in the medical technology sector. No further details were disclosed about this potential transaction and a definitive agreement still has not been signed.

BlueRiver initially raised $287.5 million from its January 2021 IPO and set out to combine with a media, telecom or entertainment business with compelling revenue and a defensible market position. But, the company saw 93% of its trust removed from redemptions during a January meeting, leaving it with $20.46 million post-vote. BlueRiver is led by Co-Chairmen and Co-CEOs John Gregg and Randall Mays, who also serves as CFO. Eric Medina serves as managing director, head of finance and corporate development.

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