Generation Asia I Acquisition Ltd. Class A (GAQ) has issued an announcement.
Generation Asia I Acquisition Limited, a Cayman Islands company, held a shareholder meeting where key decisions were made to extend the deadline for completing a business combination from July 23, 2024, to July 23, 2025. This move requires a $35,000 deposit into the trust account for each one-month extension. Additionally, shareholders voted to reduce the monthly extension payments required from the company’s sponsor. A significant 69% of the shares sold during the initial public offering were redeemed, resulting in over $59 million being returned to shareholders. These strategic amendments are designed to provide the company with more time and flexibility to secure a suitable business combination deal.
Learn more about GAQ stock on TipRanks’ Stock Analysis page.
