dMY Squared Technology Group, Inc., a publicly traded special purpose acquisition company, has announced an additional extension for completing its initial business combination. The new deadline is now set for August 29, 2024, as approved by the company's board of directors on July 26, 2024. This extension represents the seventh of a possible twenty-three one-month extensions that dMY Squared Technology Group may utilize.
The company, which is listed on the NYSE American under the ticker symbols DMYY.U for its units, DMYY for its Class A common stock, and DMYY.WS for its redeemable warrants, has deposited an additional $50,000 into its trust account in connection with this extension. The trust account, which holds funds for the eventual business combination, reflects the company's commitment to securing a suitable merger or acquisition target.
dMY Squared Technology Group is based in Las Vegas, Nevada, and falls under the "blank checks" industry classification, with an organizational name of 05 Real Estate & Construction. The company's fiscal year ends on December 31, and it operates under the jurisdiction of Massachusetts.
This latest development allows dMY Squared Technology Group more time to identify and complete a transaction that aligns with its strategic goals. The Amended and Restated Articles of Organization, as amended, grant the company the right to extend the deadline to consummate a business combination up to December 29, 2025. Each extension requires a resolution from the board of directors.
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