Investment

Mobiv Acquisition’s Shares Plummet 44% After Extending Combination Deadline

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By Jeffrey T. Lewis


Mobiv Acquisition’s shares plunged 44% after the blank check company extended a deadline to complete an initial business combination by a month.

Shares reached $4.90 and were down 14% from the end of last year through Tuesday’s close.

The special purpose acquisition company was set up to carry out a merger or other business combination with a target business. The extension was the seventh of up to nine one-month permitted under Mobiv’s governing documents.

The previous extension, to Nov. 8 from Oct. 8, was announced Oct. 6. On that date the shares declined 4.7%.


Write to Jeffrey T. Lewis at [email protected]


Read the full article here

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