HCM Acquisition Seeks Extension for Business Combination Deadline

HCM Acquisition, a blank-check company, has recently filed for an extension of its business combination deadline. The special purpose acquisition company is proposing to push the deadline from January 25th to February 25th. Additionally, they are requesting an option for up to two more one-month extensions beyond that.

Previously, the company’s shareholders had already granted several extensions, shifting the original deadline from April 25th of the previous year to January 25th. A shareholder meeting has been scheduled for Thursday to discuss this matter further.

HCM announced last March its intention to merge with Murano PV, a Mexico-based property-developer. The deal would result in Murano PV having an estimated pro-forma enterprise value of around $810 million. At the time, the agreement was anticipated to be finalized during the third quarter of 2023.

Towards the end of last year, HCM and Murano reached an agreement to extend the termination date of the merger. Originally set for January 25th, it was extended to June 30th as per securities filings.