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dMY Squared Technology Group, Inc., a special purpose acquisition company, has announced an extension for completing its initial business combination. The Las Vegas-based company, trading on the NYSE American under the ticker symbols DMYY.U, DMYY, and DMYY.WS, has moved the deadline from December 29, 2024, to January 29, 2025. This extension is part of up to 23 potential one-month extensions that the company is allowed to exercise, potentially pushing the final date to December 29, 2025.
The decision, made by the company's board of directors on Friday, involves depositing an additional $50,000 into the company's trust account. This action aligns with the terms set out in the company's Amended and Restated Articles of Organization. The extension gives dMY Squared Technology Group additional time to secure a merger or acquisition that aligns with its investment strategy.
dMY Squared Technology Group, which operates under the SIC code for blank checks (6770), indicating its status as a vehicle for mergers and acquisitions, has not specified the reasons for the extension or identified potential business combination targets. The company's Chief Financial Officer and Chairman, Harry L. You, signed the SEC filing confirming the board's resolution.
This news is based on a recent SEC filing by dMY Squared Technology Group.
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