Bite Acquisition (BITE) has released an update.
On February 13, 2024, Bite Acquisition Corp. stockholders gave the green light for the company to extend the deadline to secure a business combination by up to six additional months, moving the date from February 17 to potentially August 17, 2024. This means the company can now opt for monthly extensions, with each extension requiring a deposit into a trust account for the benefit of public stockholders. This decision was made during a special meeting where a significant majority of stockholders voted in favor, and as part of the process, a number of shares were redeemed for a total of approximately $5.55 million, leaving around $25.25 million in the trust account.
For further insights into BITE stock, check out TipRanks’ Stock Analysis page.
