SPACInsider Logo
Maquia Capital (MAQC) Adjourns Extension Vote
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redeem a total of 14,781,810 shares of common stock, representing 82.61% of MAQC outstanding shares, but these may be withdrawn at any time prior to the meeting.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 Kristi Marvin on 2022-11-28 at 8:27pm

Considerations for Creating Shareholder Value in a Volatile Market   Join us for a virtual panel on December 14, 2022 The current trends of rising interest rates and inflationary cost increases, among other things, have imposed downward pressures on publicly traded equity prices, especially for businesses that became publicly traded via a de-SPAC merger. Please...

by Marlena Haddad on 2022-11-28 at 12:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  Virgin Galactic appoints new top lawyer, Trump Media SPAC rises after investors approve merger deadline extension, and Al Maadeed to be first Qatari to list company on NYSE Virgin Galactic, Preparing for Liftoff,...

by Nicholas Alan Clayton on 2022-11-25 at 2:31pm

PMV Consumer (OTC PINK:PMVC) announced that it is redeeming all non-insider public shares for approximately $10.09 per share, but it will not be dissolving just yet. The SPAC is set to provide written redemption notices to each shareholder and trust proceeds are to be distributed within 30 days of these notices. PMV Consumer will then...

by Marlena Haddad on 2022-11-25 at 11:02am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Ex-Marvel chief takes the wheel at Arrival, Paysafe plans reverse stock split, and Dave Inc. to pursue a bank charter Founder of troubled electric van maker Arrival steps aside as CEO The founder...

by Nicholas Alan Clayton on 2022-11-25 at 7:31am

Digital World (NASDAQ:DWAC) announced late Wednesday that its shareholders have approved amending its charter to allow for automatic three-month extensions of its transaction deadline until September 8, 2023. This brings to close a long drama during which Digital World adjourned the vote without concluding business six times at different meetings in September, October and November....

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