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2022-01-08 00:16
11:14 AM EST, 01/07/2022 (MT Newswires) -- Vickers Vantage Corp. I (VCKA) said Friday it extended the deadline for it to complete an initial business combination by three months to April 11.
In connection with the extension, the blank check firm's sponsor has extended a $1 million non-interest bearing loan, which was deposited into the company's trust account.
The loan is repayable once the company completes an initial business combination and may also be converted into warrants, at the option of the sponsors, at a price of $0.75 per warrant.
The special purpose acquisition company will be subject to liquidation if it fails to complete a deal by April 11, unless the deadline is further extended.
Vickers shares were marginally higher in morning trading.
Price: 10.09, Change: +0.04, Percent Change: +0.40