Acri Capital Acquisition Corporation Announces Extension of the Deadline for an Initial Business Combination
Acri Capital Acquisition (Nasdaq: ACAC), a special purpose acquisition company, announced an extension of its deadline for completing an initial business combination from June 14, 2024, to July 14, 2024.
This extension was made possible by a deposit of $50,000 into the company's trust account by Acri Capital Sponsor
Per the company's amended certificate, monthly extensions can continue until January 14, 2025, or an earlier date as decided by the board, with a $50,000 deposit required each month.
- Extended deadline provides additional time for completing a business combination, potentially securing a better deal.
- Extension funded by a $50,000 deposit, indicating financial backing and confidence from Acri Capital Sponsor
- Ability to extend monthly until January 14, 2025, offers flexibility and reduces pressure on immediate deal completion.
- Repeated monthly extensions could signal difficulties in finding a suitable business combination.
- Each extension requires a $50,000 deposit, which could accumulate and impact financial resources over time.
- Uncertainty and delays in completing a business combination could affect investor confidence and stock performance.
Austin, Texas, June 12, 2024 (GLOBE NEWSWIRE) -- Acri Capital Acquisition Corporation (the “Company”) (Nasdaq: ACAC), a special purpose acquisition company, today announced that, in order to extend the date by which the Company must complete its initial business combination from June 14, 2024 to July 14, 2024, Acri Capital Sponsor LLC, the sponsor of the Company, has deposited into its trust account (the “Trust Account”) an aggregate of
Pursuant to the Company’s Amended and Restated Certificate of Incorporate currently in effect, the Company may extend on monthly basis from April 14, 2024 until January 14, 2025 or such an earlier date as may be determined by its board to complete a business combination by depositing the New Monthly Extension Payment for each month into the Trust Account.
About Acri Capital Acquisition Corporation
Acri Capital Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses with one or more businesses or entities.
Cautionary Statement Regarding Forward-Looking Statements
This Press Release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
Contact Information
Company Contact:
Acri Capital Acquisition Corporation
Ms. “Joy” Yi Hua, Chairwoman
Email: acri.capital@gmail.com
Investor Relations Contact:
International Elite Capital
Annabelle Zhang
Telephone: +1(646) 866-7989
Email: acri@iecapitalusa.com
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