Big Rock Partners Files Proxy for Extension #4


Big Rock Partners Files Proxy for Extension #4

Feb 27, 2020 INTEL by Kristi Marvin

Big Rock Partners Acquisition Corp. (BRPA), filed a preliminary proxy statement this evening to extend their current deadline from March 23, 2020 to an as-yet-to-be-determined date.  However, this will be BRPA’s fourth extension vote since their IPO on November of 2017.

BRPA was initially given twelve months to complete a business combination, but has previously extended twice for three months for $0.10 per share to trust (each time).  The most recent extension (the third extension) BRPA contributed $0.02 per public share per month for each public share that was not redeemed at its extension vote.  It remains to be seen what the contribution will be per share for their fourth extension vote since that information is currently left blank in the proxy. However, the good news is, BRPA has left a space for it.

The record date for the extension vote is set as March 3, 2020 and the vote date will be March 23rd. Look for a subsequent amended preliminary proxy or definitive proxy shortly with the currently missing information provided.