zimmytws
SPAC Capitalworks Emerging Markets (NASDAQ:CMCA) has postponed a special shareholders meeting on extending its deadline to consummate a business combination in the wake of news that it was negotiating a possible merger.
CMCA said that the meeting has been moved to March 1 from Feb. 24. Shareholders will be asked to vote on extending its termination deadline to Dec. 3 from March 3.
Earlier this month, CMCA said that it had signed a non-binding letter of intent to merge with an Asian reinsurance company. In its latest filing, CMCA said if a definitive agreement is reached before March 3, it will delay the special shareholders meeting to June 3, when shareholders will be able to vote on whether to approve the merger.
CMCA added that the new deadline for shareholders to submit shares for redemption is Feb. 27.
CMCA held its initial public offering in Dec. 2021, raising $200M.
