GORDON POINTE ACQUISITION CORP. (GPAQ)
Last Thursday, May 14th, Gordon Pointe Acquisition Corp. (GPAQ), held their shareholder vote to extend their completion deadline to June 15th, with an option to further extend to July 15th (if they need it). GPAQ will now be looking to close their combination with HOF Village, the football “Hall of Fame Village”, as soon as possible.
The good news is, all things considered, GPAQ had a pretty good extension vote with 658,072 shares opting to redeem at a per share price of ~$10.77, or $7.1 million total. That leaves approximately $31.1 million in the trust, including the $114,937.76 ($0.04 per share) the sponsors contributed for non-redeeming shareholders. This is down from the approximate $38.0 million held in trust going into the vote.
We don’t have a shareholder vote date set just yet, but considering GPAQ only has, at most, a little less than two months to go, a new proxy should be filed shortly.