Pegasus Digital Mobility Acquisition Corp. Enters Into Amendment To Business Combination Agreement With Gebr. Schmid Group; Extend Time Of Combination To April 30, 2024; Reduces Number Of Shares Issued To 28.725M
Portfolio Pulse from Benzinga Newsdesk
Pegasus Digital Mobility Acquisition Corp. has amended its business combination agreement with Gebr. Schmid Group, extending the deadline for the combination to April 30, 2024. The amendment also reduces the number of shares to be issued in the combination to 28.725 million.
January 29, 2024 | 9:27 pm
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Pegasus Digital Mobility Acquisition Corp. has revised its business combination terms with Gebr. Schmid Group, extending the merger timeline and decreasing the share count for the deal.
The amendment of the business combination agreement may be viewed neutrally by investors as it shows progress in the merger process, but the reduction in the number of shares to be issued could be seen as a positive sign of management's confidence in the deal. However, the extended timeline might raise concerns about potential delays or uncertainties surrounding the completion of the merger.
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