🔺 What to do when markets are at an all-time high? Find smart bargains, like these.See Undervalued Stocks

Everest Consolidator Acquisition extends combination period

EditorLina Guerrero
Published 11/29/2024, 02:36 PM
EG
-

Everest Consolidator Acquisition Corp (NYSE:MNTN), a special purpose acquisition company, announced the approval from its shareholders to extend the period for completing a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The extension allows the board to extend the Combination Period up to six additional times for one month each, from November 23, 2024, to May 23, 2025.

The decision occurred during a special meeting of stockholders on November 22, 2024, where approximately 87.97% of the outstanding shares entitled to vote were present in person or by proxy. The Extension Amendment Proposal was approved with 6,219,496 votes for, 77,817 against, and no abstentions.

Additionally, the Trust Amendment Proposal, which allows for the extension of the Combination Period and requires the company to deposit $10,000 into the Trust Account for each one-month extension, was also approved with the same voting results as the Extension Amendment Proposal.

The company's shareholders holding 2,817,827 Public Shares exercised their right to redeem their shares for a pro rata portion of the funds in the Company’s Trust Account, representing approximately 99.02% of the Company’s outstanding Public Shares and 39.37% of the Company’s outstanding shares of Common Stock.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.