SPAC Minority Equality Opportunities Acquisition Inc. (NASDAQ:MEOA) has delayed a shareholders vote to approve its planned merger with cloud services provider Digerati (OTCQB:DTGI) to Friday, May 26.
MEOA and Digerati first announced the merger in September, with the deal estimating the combined company’s enterprise value at $145M. The deal would also result in Digerati uplisting from OTC to Nasdaq.
The SPAC said in a statement released on Wednesday that preliminary reports indicate shareholders had requested redemptions for 728,815 of its Class A common stock. It added 52,013 shares are expected to be outstanding when the merger closes.