The Growth for Good Acquisition Corporation (NASDAQ: GFGD) disclosed in a press release today that it has once again adjourned its special meeting. This marks the fourth postponement for shareholders to cast their votes on the SPAC’s combination with EV-maker ZeroNox.
Initially scheduled for August 23, the meeting has now been pushed back until September 6, at 10:00 a.m., ET.
The Growth for Good did not provide an explanation for the adjournment of today’s meeting. However, during the initial postponement, it mentioned that it was in the process of finalizing specific agreements related to the subscription of shares in a PIPE financing agreement.
It 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.
Both parties entered into the $306 million agreement earlier this year in March, with an upcoming completion deadline of September 14. 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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