Vickers Vantage Corp. I (Nasdaq: VCKA) has announced an extension of three months to finalize its initial business combination, now due by July 11, 2022. The company's sponsors deposited $1,035,000 into the trust account as a non-interest bearing loan, which will be repaid upon completion of a business combination. Failure to do so by the new deadline could lead to liquidation. Vickers operates as a blank check company, seeking opportunities across various industries and regions.
Vickers Vantage Corp. I (Nasdaq: VCKA) has extended the deadline to finalize a business combination by three months to April 11, 2022. This extension follows a deposit of $1,035,000 made by the sponsors into a trust account, structured as a non-interest bearing loan. Upon completion of the business combination, the sponsors may either repay the loan or convert it to warrants priced at $0.75 each. If no agreement is reached by the new deadline, the company plans to liquidate.
On June 1, 2021, Vickers Vantage Corp. I (NASDAQ: VCKA) announced it received a notification from NASDAQ regarding non-compliance with its Listing Rule due to the missing Quarterly Report on Form 10-Q for Q1 2021. The deadline for compliance is July 26, 2021, and if approved, Vickers may get an extension until November 22, 2021. The delays are attributed to the need for re-evaluation of warrant accounting based on an SEC Statement, causing reliance on third-party accountants. The Company is working to complete and submit the Form 10-Q promptly.