ROI Acquisition Corp. II (NASDAQ: ROIQ; ROIQW; ROIQU) said it will hold a stockholder meeting in order to seek stockholder approval to extend the date by which ROI must complete a business combination by 30 days to October 20, 2015.
Under ROI´s amended and restated certificate of incorporation, the deadline to complete a business combination currently is September 20, 2015.
ROI has entered into a merger agreement for a business combination with Ascend Telecom Holdings Limited. On July 27, 2015, Ascend Holdings filed a registration statement on Form F-4, including a proxy statement/prospectus, relating to the business combination transaction. Since that time, ROI and Ascend Holdings have been working together to address comments from the staff of the Securities and Exchange Commission on the registration statement and satisfy the various closing conditions under the merger agreement.
The extension would allow ROI more time to complete these matters and close the proposed business combination transaction with Ascend Holdings, which ROI´s board of directors believes is in the best interest of ROI´s stockholders. If the extension is approved, ROI said it will hold another stockholder meeting prior to the extended deadline in order to seek stockholder approval of the proposed business combination transaction with Ascend Holdings.
ROI is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving ROI and one or more businesses. ROI is a Delaware corporation formed in 2013.