This is turning into “Extension Wednesday”. In addition to Tiberius and Big Rock Partners filing for extensions tonight, Gordon Pointe Acquisition Corp. (GPAQ), also filed a preliminary proxy to extend their deadline 45 more days. GPAQ’s current deadline expires on March 30th, but they will be asking to extend their expiration to May 14, 2020. So they’re close, but it sounds like they need a little cushion to wrap things up.
GPAQ has been working towards closing their combination with HOF Village, Inc., and previously set a combination vote date for March 25, 2020. However, since it appears they are going to exceed their March 30th deadline, 45 more days seems prudent, rather than 30 days. Most likely, they are asking for more time than they need so they don’t have to come back another time. Additionally, it is presumed that the current shareholder vote to complete, which is set as March 25th, will be moved, but since there is no definitive reference to that vote, it’s still unclear.
However, GPAQ will be contributing funds to trust for public shares that do not redeem at this extension vote, but the amount they will be contributing is currently left blank. Record date is set as February 18, 2020 and the deadline to redeem is March 23, 2020.