Flame Acquisition (FLME) has released an update.
Flame has announced a special meeting set for February 12, 2024, where stockholders will vote on a proposed Business Combination. Stockholders have the option to redeem their shares for cash if the deal goes through, provided they follow the redemption procedure by February 8, 2024. By the deadline, stockholders elected to redeem about 2.47% of the Class A Common Stock, totaling approximately $1.57 million at a rate of $10.44 per share, which will be funded from Flame’s trust account, leaving it with a remaining balance of roughly $62.2 million.
For further insights into FLME stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
