Northern Star Investment Corp. II (NYSE:NSTB) and Pivotal Investment Corp. III (NYSE:PICC) both announced this afternoon that their extension votes, originally scheduled for today, have been adjourned to December 28.
Both SPACs expect to use this additional time to engage with their stockholders and solicit redemption reversals. NSTB faces a completion deadline of January 28, 2023, while PICC has a deadline of February 11, 2023.
Northern Star II originally entered into a $4.7 billion business combination with Apex Clearing Holdings on February 22, 2021, just 27 calendar days after its IPO on January 26, 2021. The SPAC was previously forced to postpone its shareholder meeting twice throughout 2021. Northern Star originally scheduled its vote for the end of June 2021, and had to adjourn once again in August 2021 because the SEC had not yet completed its review. The business combination was eventually terminated in December 2021.
As for Pivotal Investment III, the SPAC announced the pricing of its upsized $240 million IPO in February 2021 and hopes to combine with a company in North America that is continuously evolving digital technology.
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