Cascadia Acquisition Corp. (CCAI) Postpones Extension Vote
Cascadia Acquisition Corp. (Nasdaq: CCAI) announced this afternoon that it is postponing its special meeting to extend its completion deadline from February 15 to February 22.
As a result of the postponement, the redemption deadline has also been extended from February 13 to February 17. The SPAC hopes to use this additional time to engage with its stockholders and consider redemption reversals.
Cascadia is looking to complete its $375 million business combination with wearable technology-maker RealWear, which was announced just last week on February 6, but now faces a deadline of February 28. The SPAC hopes to gain shareholder approval at its upcoming meeting next week to extend this deadline by six months to August 31.
Vancouver, Washington-based RealWear makes cloud-connected headsets to improve the productivity of manual work with enhanced visualizations and access to viewable software.