Acri Capital Acquisition Corporation Announces Extension of the Deadline for an Initial Business Combination

Rhea-AI Summary

Acri Capital Acquisition Corporation (ACAC) extends the completion date for its initial business combination from December 14, 2023, to January 14, 2024. The sponsor has deposited $75,000 into the Trust Account to facilitate this extension.

Austin, Texas, Dec. 12, 2023 (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 December 14, 2023 to January 14, 2024, Acri Capital Sponsor LLC, the sponsor of the Company, has deposited into its trust account (the “Trust Account”) an aggregate of $75,000 (the “New Monthly Extension Payment”).

Pursuant to the Company’s Amended and Restated Certificate of Incorporate currently in effect, the Company may extend on monthly basis from July 14, 2023 until April 14, 2024 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

FAQ

What is the ticker symbol for Acri Capital Acquisition Corporation?

The ticker symbol for Acri Capital Acquisition Corporation is ACAC.

What is the reason for extending the completion date for the initial business combination?

The company has extended the date to complete its initial business combination to January 14, 2024, to allow more time for the process.

How much money has the sponsor deposited into the Trust Account for the extension?

The sponsor has deposited an aggregate of $75,000 into the Trust Account as the New Monthly Extension Payment.

Until when can the company continue to extend the completion date on a monthly basis?

The company can extend the completion date on a monthly basis from July 14, 2023, until April 14, 2024, or an earlier date as determined by its board.

What is the purpose of depositing the New Monthly Extension Payment into the Trust Account?

The purpose is to facilitate the extension of the completion date for the initial business combination.