Breeze Holdings extends business combination deadline

EditorAhmed Abdulazez Abdulkadir
Published 31/12/2024, 17:44
Breeze Holdings extends business combination deadline

Breeze Holdings Acquisition Corp. (OTCQX:BRZH), a special purpose acquisition company, announced Monday that its stockholders approved an extension of the deadline to complete a business combination. The extension, set during a Special Meeting held on December 23, moves the deadline from December 26, 2024, to as late as June 26, 2025.

The meeting saw a turnout of 79.4% of eligible shares, with 3,202,414 shares of common stock voting on the proposals. The stockholders voted in favor of amending the company's certificate of incorporation and the Investment Management Trust Agreement to facilitate the extension.

In conjunction with the extension, 621,609 shares were redeemed, leaving 3,412,103 shares outstanding, of which 272,103 are public shares. Public stockholders retain the option to redeem their shares for cash upon completion of the initial business combination, based on the amount in the trust account two business days prior to the approval of the combination.

Following the redemptions, approximately $3.2 million remains in the trust account. The company emphasized that if a business combination is not completed by the new deadline, it will liquidate and redeem outstanding public shares at a price based on the trust account balance, less certain permissible deductions.

The extension provides Breeze Holdings additional time to identify and complete an initial business combination. The company has not disclosed any specific targets or industries for this potential transaction.

This news is based on a press release statement and reflects the latest developments in Breeze Holdings Acquisition Corp.'s efforts to finalize a business combination.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.