Santa Monica Media Corporation SPAC Sets Shareholder Vote Date to Extend Timeframe to Acquire “Healthy Kids Lifestyle” Company
Santa Monica Media Corporation, a $100 million SPAC priced in March 2007, has set April 1st, 2009 as the date its shareholders will vote to (i) extend the date before which SMMC must complete a business combination from April 2, 2009 to December 15, 2009, and (ii) amend the threshold regarding the limit on the amount of the SPAC’s shares that may seek a conversion from less than 20% to less than 40% of such shares
The SPAC has simultaneously announced the name of the company with which it had entered into an LOI last September, California-based NUI, LLC, (http://www.nui.com/) a “healthy kids lifestyle” company.
NUI’s current and planned food and beverage products and media properties include NUI Hybrid Beverage,™ a fruit juice beverage, the NUI Island Eco-Logical Adventures book series, NUI.com (a planned online-community, social networking, and virtual world website) and the NUI Island Animated Television Series, currently in development.
Details of the transaction have not yet been disclosed.
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