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In a recent development, dMY Squared Technology Group, Inc., a special purpose acquisition company, has announced an extension for completing its initial business combination. The company’s board of directors has approved the extension from January 29, 2025, to February 28, 2025. This marks the thirteenth one-month extension out of a possible twenty-three, as outlined in the company’s Amended and Restated Articles of Organization.
To facilitate this extension, dMY Squared Technology Group deposited an additional $50,000 into its trust account on January 28, 2025. This move is part of the company’s strategy to provide additional time to secure a suitable business combination partner. The extension allows the company until December 29, 2025, to finalize a merger, as per the rights reserved in its corporate governance documents.
The company, which is incorporated in Massachusetts and headquartered in Las Vegas, Nevada, trades on the NYSE American with the ticker symbols DMYY.U for its units, DMYY for its Class A common stock, and DMYY.WS for its redeemable warrants. Each redeemable warrant is exercisable for one share of Class A common stock at an exercise price of $11.50 per share.
This announcement, reported in a Form 8-K filed with the SEC, highlights the company’s ongoing efforts to meet its strategic objectives. As an emerging growth company, dMY Squared Technology Group is navigating the complex process of identifying and merging with a business that aligns with its investment criteria.
The information presented in this article is based on the latest SEC filing by dMY Squared Technology Group, Inc. and provides investors with the key facts surrounding the company’s decision to extend the deadline for its initial business combination.
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