A spokesperson at SGX says it has been actively engaging market professionals and sponsors over the last 12 months on their de-spac preparatory work for the upcoming business combinations. The three spacs are expected to make relevant announcements at the end of September, conscious of the January 2024 timeline.
Three Singapore-listed special purpose acquisition companies (spacs) are facing a ticking clock to announce their outcomes. Listed on the Singapore Exchange (SGX) in early January 2021, the three spacs -– Vertex Technology Acquisition Corporation (SGX:VT1
) (VTAC), Pegasus Asia (SGX:PGS) (Pegasus) and Novo Tellus Alpha Acquisition (SGX:NTA) (NTAA) — have since not made any formal announcements.
The three spacs must announce a business combination agreement (BCA) or request a deadline extension soon to meet the timeline. As of Sept 13, none have made any public statements, and they have declined to comment to The Edge Singapore.
