DP Cap Acquisition Corp. I Class A (DPCS) has released an update.
At the Company’s Extraordinary General Meeting, shareholders overwhelmingly approved an amendment to extend the deadline for completing a significant business transaction from February 12, 2024, to November 12, 2024. Additionally, a significant number of Class A Ordinary Shares were redeemed for cash, and the Sponsor agreed to contribute monthly to the trust for the benefit of public shareholders until a business combination is approved or the new deadline is reached. Moreover, major Class B shareholders converted their shares into Class A shares, altering the share structure and redemption rights post-meeting.
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