Ceres Acquisition extends deadline to complete SPAC deal

• Ceres Acquisition (OTCQX:CERAF) extended the permitted timeline to complete a qualifying SPAC transaction to Jun. 30.
• In connection with the extension, class A restricted voting shareholders were provided with the option to redeem all or a portion of their class A restricted voting shares and 10.7M such shares were deposited and not withdrawn and will accordingly be redeemed.
• A payment of $10 per redeemed class A restricted voting share is being made, before taking withholding taxes into account, which includes $30.3K being paid to redeeming class A restricted voting shareholders by Ceres' sponsor Ceres Group Acquisition Sponsor.
• Last month, CERAF announced a non-binding LOI with Maritime Launch Services to combine with MLS as its qualifying transaction.