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.