Today’s meeting was being held to vote on an amendment to extend OCAX’s completion deadline. The SPAC currently faces a completion deadline of January 20, but is hoping to gain shareholder approval to extend it to April 20.
OCA did not disclose why the meeting was adjourned, but as of January 16, the number of shares of Class A Common Stock tendered for redemption was 11,049,283.
If approved, this would mark OCA’s second extension. Shareholders approved the company’s first extension at a meeting in July 2022 to add an extra 6 months to its clock.
OCA announced the pricing of its $130 million IPO in January 2021 but has not yet announced a business combination. The company intends to combine with a technology-enabled business services target valued at $750 million to $1 billion.