Oxus Acquisition Corp. (NASDAQ:OXUS) has adjourned its extension vote today without conducting any business and will reconvene at 8:30 am ET March 2.
Shareholders are to consider extending the SPAC’s transaction deadline from March 8 to December 8 and allow the sponsor to convert its promote shares to Class A shares prior to the closing of a business combination.
Point of fact, Oxus just last week announced a $150 million combination with Borealis Foods, which has developed a line of plant-based ramen noodle products.
The record date for the vote remains January 25 and the redemption rate slated to be $10.40 per share. Oxus’ sponsor has agreed to loan the company the lesser of $180,000 or $0.12 per share for the vote, plus the lesser of $60,000 of $0.04 per share for each of the six months it extends beyond June 8.
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