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M I Acquisitions extends deadline to close biz combination

M I Acquisitions Inc. sponsors have deposited funds into a trust account to extend the time period to complete a business combination.

The purpose of the extension is to provide time for the company to complete its previously announced business combination with Priority Holdings LLC, a provider of business-to-consumer and business-to-business payment processing solutions. The deadline has been moved to April 19 from March 19.

The sponsors will have the option to extend the deadline an additional two times, each by one additional month, up to June 19, by depositing additional funds into the trust account.