Skip to main content

SPREE ACQUISITION CORP. 1 LIMITED TO SEEK REVISED, 12-MONTH EXTENSION

Written by Customer Service on . Posted in Public Companies.

Shareholders to be given opportunity to participate in potential upside of business combination or redeem shares at upcoming extraordinary general meeting

Atlanta, Georgia, Nov. 20, 2023 (GLOBE NEWSWIRE) —  Spree Acquisition Corp. 1 Limited (NYSE: SHAP) (“Spree” or the “Company”) announced today that it intends to call an extraordinary general meeting in the near future to seek a revised, 12-month extension of its deadline for consummating a business combination transaction.

Spree’s memorandum and articles of association currently provide for a deadline of March 20, 2024 for completion of a business combination transaction. Spree does not believe that it will be able to complete such a transaction by that time and will request from its shareholders an approximate 12-month extension from the date of its upcoming general meeting (until the three-year anniversary of its initial public offering) in order to do so.

Spree’s sponsor currently contributes, as a loan to Spree, $100,000 per month to Spree’s trust account at Continental Stock Transfer & Trust Company on the 20th calendar day of each month, which contributions began on June 20, 2023 (the start of Spree’s current, month-by-month extension period), and were scheduled to continue until (but excluding) March 20, 2024. In connection with the revised, proposed 12-month extension, the sponsor will no longer make those monthly contributions. Instead, Spree’s sponsor will utilize its cash towards optimizing its efforts towards a successful business combination.

In connection with the extraordinary general meeting to be held, Spree’s public shareholders will have the option of continuing to hold their Class A ordinary shares with the opportunity to participate in an investment in a combined company following a potential business combination, or redeeming their shares for a pro rata portion of the funds invested in Spree’s trust account.

Further information related to attendance, voting and the proposals to be considered and voted on at the prospective extraordinary general meeting will be provided in upcoming public filings by Spree with the Securities and Exchange Commission.

About Spree Acquisition Corp. 1 Limited

Spree Acquisition Corp. 1 Limited (NYSE: SHAP), is a publicly-listed special purpose acquisition company, registered as a Cayman Islands exempted company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. Spree has been focused on a business combination with one or more mobility-related technology businesses.

Contact:

Shay Kronfeld, CFO
Email: sk@spree1.com,
Telephone: (470) 223-0227 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.