Home Plate Acquisition Corp. (HPLT) Adjourns Extension Vote

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Home Plate Acquisition Corp. (HPLT) Adjourns Extension Vote

Home Plate Acquisition Corporation (NASDAQ:HPLT) announced that it adjourned its extension vote today and will reconvene the special meeting at 10:30 am ET on March 30.

At the upcoming meeting, the SPAC hopes to gain shareholder approval to extend its completion deadline from April 4, 2023, to October 4, 2023.

Home Plate announced a $214 million business combination with shipping company Heidmar just last Monday, March 20. The SPAC has about $202.9 million in trust, but the parties expect it to contribute $10 million in trust funds in a maximum redemption scenario. Home Plate plans to supplement this with a $45 million PIPE.

Athens-based Heidmar operates an asset-light shipbroking network providing access to a pool of 60 fuel tanker and dry bulk ships.