Minority Equality Opportunities (NASDAQ:MEOA) announced this morning that it is postponing its special shareholder meeting from 10 am ET this morning to 2 pm ET tomorrow, May 23.
Shareholders at the meeting are to consider a proposal allowing the SPAC to extend its deadline three months from May 30 to August 30 in exchange for a $250,000 contribution to its trust.
Minority Equality Opportunities is up about +4.5% in the pre-market to $11.50, well above its estimated redemption rate for the vote of $11.15, but it closed Friday trading at $11.
The SPAC does have a deal in hand as well, having announced a $145 million combination with cloud services firm Digerati (OTC:DTGI) in September 2022. San Antonio, Texas-based Digerati runs internal phone networks for small and medium-sized businesses through a series of subsidiaries.
Digerati last reported $7.9 million in revenue for the three months ending January 31 with an operating loss of -$1.5 million.
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