Extension Vote Results: Allegro Merger Corp. (ALGR)

ALLEGRO MERGER CORP. (ALGR)

This afternoon, Allegro Merger Corp., released the details of their shareholder vote to approve moving their extension deadline from January 6, 2020 to March 31, 2020.

Per the 8-K, 3,782,869 public shares exercised their right to redeem at a price of $10.22 and as a result, approximately $38,660,921 was removed from the Trust Account.  A total of approximately $114,128,079 remained post-vote, however, the sponsors also announced they have contributed $0.02 per share to the Trust for the month of January, or approximately $223,342.62.  For the months of February and March (should they need them) Allegro’s sponsor will be contributing an additional $0.025 per share, or $279,178 total, for each month.

ALGR now has until March 31st to close its deal with TGI Fridays.