TG Venture Acquisition Corp. (TGVC) Postpones Extension Vote
by Marlena Haddad on 2023-04-24 at 5:45pm

TG Venture Acquisition Corp. (NASDAQ: TGVC) announced that it has postponed its special meeting, originally scheduled to be held on April 27, until May 4.

In connection with the postponement of the meeting, the SPAC has further extended the redemption deadline until 5:00 p.m. ET on May 2.

TG Venture currently faces a completion deadline of May 5, but is hoping to gain shareholder approval at the upcoming meeting to extend its timeline by an additional six months until November 5.

If the proposal is approved, then TG Venture’s sponsor will deposit into the trust the lesser of $100,000 and $0.04 per share multiplied by the number of shares outstanding on the applicable date, on each of May 5, and on the 5th day of each subsequent calendar month until the extended date.

TG Venture announced its $205 million business combination with Asia-Pacific coworking space operator The Flexi Group in December 2022. The Flexi Group is one of the region’s largest flexible workspace operators with 45 locations in 12 cities and 9 countries including Australia, Singapore, Malaysia, Hong Kong, Thailand, Philippines, Taiwan, Vietnam and Japan.

 

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