Fat Projects (FATP) and Jack Creek Investment Corp. (JCIC) Postpone Extension Votes

Fat Projects (NASDAQ:FATP) and Jack Creek (NASDAQ:JCIC) each announced this morning that they were postponing their upcoming extension votes.

Jack Creek is moving its vote originally scheduled for today, January 12, at 10 am ET to the same time January 24. Fat Projects meanwhile is pushing its 9:30 am ET meeting today to 1 pm ET, January 13.

Fat Projects’ change has an extra wrinkle in that it is shrinking its contribution to trust from $0.0625 per share per month to $0.0575 per share. Its redemption deadline is to remain open until 11 am ET January 13. In its original IPO terms, Fat Projects could extend two times for three months each by depositing $0.15 per unit in trust.

Fat Projects does have a $135.7 million deal in hand, which it announced with software firm Avanseus on August 26. Jack Creek also has an $869 million combination with firefighting plane operator Bridger Aerospace that it is working to close. This is the second time it has pushed back the clock on its extension vote this week.

Fat Projects is trading well above its estimated trust value at $10.25 as of its most recent close while Jack Creek is lagging at $9.05 with the finish to Wednesday trading after it had passed it’s redemption deadline. It has rebounded +11.8% to $10.12 in the pre-market, just below its estimated pro rata trust value of $10.15, however.