The SPAC currently has a completion deadline of March 30, but is seeking shareholder approval to extend it to September 30. In light of the adjournment, Berenson has also extended the deadline for stockholders to submit their shares for redemption to 5 p.m. ET on February 3.
This marks Berenson’s second adjournment for its extension vote. The SPAC had originally scheduled the meeting for December 13 before postponing it to today.
Berenson announced the pricing of its $250 million IPO in September 2021 but has not yet announced a business combination. The company intends to combine with a business that is operating in the software and technology-enabled services sector with recurring revenue, the prospect for high free cash flow conversion at scale, and an enterprise value of at least $1 billion.