Aldel Financial II extends SPAC deadline to January 2028

Aldel Financial II Inc. shareholders approved an extension of the company's deadline to complete a business combination, moving the target date from October 23, 2026, to January 23, 2028. The decision was finalized at an extraordinary general meeting held on October 5, 2026, where the vote to amend the Amended and Restated Memorandum and Articles of Association passed with 18,835,900 votes in favor and 5,753,795 withheld. The extension permits the Cayman Islands-based special purpose acquisition company to defer its liquidation obligation on a monthly basis for up to fifteen months.

The vote represented 82.33% of the company's outstanding shares, with a total of 24,589,695 Class A and Class B ordinary shares present virtually or by proxy as of the September 10, 2026 record date. In conjunction with the approval of the extension, shareholders also voted to reduce the amount of interest earned on the trust account that the company can withdraw to cover liquidation and dissolution expenses. This cap was lowered from $100,000 to $25,000, a change that received 22,639,713 votes in favor and 1,949,982 against.

Aldel Financial II entered into an amendment to its Investment Management Trust Agreement with Continental Stock Transfer & Trust Company, dated October 7, 2026. This amendment aligns the trust terms with the newly approved charter changes. Under the revised terms, the company must deposit $50,000 into the trust account for each one-month extension if it has not completed its initial business combination by the deadline. The deposit is required two days prior to each extension period.

The board of directors saw two new appointments during the meeting. Stuart Kovensky and Meltem Demirors were elected as Class II directors by ordinary resolution. Both directors will serve until the 2029 annual general meeting or until their successors are elected. The vote for each director was identical, with 17,352,421 votes in favor and 7,237,274 against. The shareholders also ratified Fruci & Associates II, PLLC as the company's independent registered public accounting firm for the fiscal year ending December 31, 2025. The ratification received 22,890,294 votes in favor and 1,699,401 against.

Despite the approval of the extension and other corporate measures, a significant portion of shareholders chose to exit the vehicle. A total of 19,690,019 ordinary shares were redeemed in connection with the meeting. Aldel Financial II is an emerging growth company listed on The Nasdaq Stock Market LLC under the ticker symbol ALDF for its ordinary shares, ALDF.W for warrants, and ALDF.U for units. The company filed its Form 8-K with the Securities and Exchange Commission on October 5, 2026.