The Saga surrounding Okada Manila and the efforts by a US-listed SPAC to bring the Philippines integrated resort operator public is one of the more unusual events concerning SPACs in recent memory.
The deal, which was announced as far back as October 2021, valuing Okada at $2.6 billion, has been stuck in Limbo amidst a heated battle for control.
After several twists and turns, the SPAC dealmakers & current management are still looking to close the deal, recently taking a one-year extension.
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