By Stephen Nakrosis
Marblegate Acquisition said its shareholders approved an extension to date by which the special purpose acquisition company has to consummate a business combination to Jan. 24 of next year from July 5.
The company filed for an initial public offering in September 2021. At the time, the company said it planned to focus its search for an initial business combination on high quality businesses that have recently undergone a restructuring.
In February, Marblegate said it would combine with DePalma Acquisition I and DePalma Acquisition II, companies that provide specialized financing solutions with a focus on the New York City taxi market. That transaction was expected to close in the third quarter.
Marblegate’s shares trade on the Nasdaq under the symbol GATE. The stock finished the day’s regular session with a 0.6% loss, closing at $10.36.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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