The Growth for Good Acquisition Corporation (NASDAQ: GFGD) announced in a press release today that it convened and then adjourned, without conducting any other business, its special meeting to August 30 at 10:00 a.m. ET.
Shareholders will be voting on a proposal to approve The Growth for Good’s business combination with EV-maker ZeroNox.
Initially scheduled for August 23, this marks the second time the SPAC has pushed back its completion vote. It did not disclose why today’s meeting was adjourned, but, during the first postponement, The Growth for Good stated it was working through certain agreements for the subscription of shares in a PIPE financing. The SPAC was able to use those extra few days to secure a $5 million PIPE for its combination from investors including trailer and tractor-makers Premier and Kubota as well as Formula-E racing team NIO 333.
The two parties inked the $306 million deal earlier this year in March. Porterville, California-based ZeroNox manufactures electric drivetrains for a wide range of off-highway vehicles like golf carts, forklifts and all-terrain vehicles.
The combined company is expected to trade on the Nasdaq under the symbol “ZNOX” once the deal is completed.
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