Atlantic Coastal Acquisition Corp. II (ACAB) Adjourns Extension Vote

Atlantic Coastal Acquisition Corp. II (NASDAQ:ACAB) announced that it adjourned today’s extension vote, without conducting any business, and will reconvene at 9:30 a.m. ET on April 18.

In connection with the adjournment of the meeting, ACAB is also extending the redemption deadline to April 14.

The SPAC announced the pricing of its upsized $261 million IPO in January 2022, but has not found a target to combine with just yet. Atlantic Coastal II hopes to identify a business in the next-generation mobility sector or other related technology sectors.

It is currently facing a completion deadline of April 19, but intends to gain shareholder approval at its upcoming meeting to extend its timeline until October 19.

Earlier this month, ACAB entered into a non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an unknown amount of shares.