Metal Sky Star Acquisition shareholders approved a deadline extension up to Aug. 24 and a proposal to lower the monthly deposit for the extension to the lesser of $50,000 or 3.3 cents a share. The required deposit on an extension earlier this year was $383,333 a month.
The SPAC said 2,412,260 shares were presented for redemption (out of 5,614,676 public shares outstanding).
Metal Sky Star last month said it and crypto miner Future Dao mutually terminated their merger agreement. The deal had a pre-transaction valuation of $350 million. Read more.
Source: Metal Sky Star Acquisition Wins Extension with Lower Trust Contribution; Redemptions Hit 43%
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- Source: https://spacfeed.com/metal-sky-star-acquisition-wins-extension-with-lower-trust-contribution-redemptions-hit-43
