Singapore’s Grab Holdings postponed the expected completion of its merger with a US blank-check company as the ride-hailing and food-delivery giant works on a financial audit of the past three years.

The deal, set to be one of the largest-ever mergers with a blank-check company, is now expected to be completed in the fourth quarter of this year, the company said in a statement on Wednesday. When announcing the merger in April, Grab expected completion in the third quarter.

Grab is the latest company to be affected by intensifying scrutiny from US financial regulators on deals involving special purpose acquisition (SPAC) vehicles. A SPAC listing boom has pushed the number of pre-deal blank-check companies trading on US exchanges to more than 500.

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