Progress Acquisition Corp. (Nasdaq: PGRW) announced this afternoon that it has cancelled its April 26 special meeting.
The SPAC originally intended to hold the meeting on April 17, but adjourned it until tomorrow to permit further solicitation of proxies for its extension proposal.
Progress did not disclose any further information on the cancellation, but has a completion deadline quickly approaching on May 8. At the meeting, Progress intended to gain stockholder approval to extend its timeline to November 8 and to provide holders of Class B common stock the right to convert their shares into Class A common stock on a one-for-one basis prior to the closing of a business combination.
The company is still searching for a target, but originally set out to combine with a digital media, entertainment and technology company with a low-churn subscription model.
Progress announced the pricing of its upsized $150 million IPO in February 2021, and had 21 months to find a target. It had held a shareholder vote in October 2022 to extend an additional six months but, it saw 95.48% of its trust redeemed leaving the SPAC with just $7.83 million in its trust post-vote.


NMP Acquisition Corp. (NASDAQ:NMPAU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “NMPAU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company that has a resilient business model with potential to scale up revenue. NMP’s management...
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...