Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
Bannix Acquisition Corp. (BNIX) has announced a one-month extension of its deadline to complete an initial business combination. The new deadline is now October 14, 2024, extended from September 14, 2024. This extension is part of a series of up to six one-month extensions approved by stockholders on September 6, 2024, potentially pushing the final deadline to March 14, 2025. The company's sponsor, Instant Fame , will deposit into the trust account either $25,000 or $0.05 per non-redeemed share, whichever is less, as a loan for each extension implemented.
Bannix Acquisition Corp. (BNIX) ha annunciato un'estensione di un mese della sua scadenza per completare una combinazione commerciale iniziale. La nuova scadenza è ora il 14 ottobre 2024, estesa dal 14 settembre 2024. Questa estensione fa parte di una serie di estensioni approvate dagli azionisti il 6 settembre 2024, che potrebbero eventualmente posticipare la scadenza finale al 14 marzo 2025. Lo sponsor della società, Instant Fame, depositarà nel conto fiduciario $25.000 o $0,05 per ciascuna azione non riscattata, a seconda di quale importo sia minore, come prestito per ogni estensione attuata.
Bannix Acquisition Corp. (BNIX) ha anunciado una extensión de un mes de su plazo para completar una combinación comercial inicial. La nueva fecha límite es ahora el 14 de octubre de 2024, extendida desde el 14 de septiembre de 2024. Esta extensión es parte de una serie de hasta seis extensiones mensuales aprobadas por los accionistas el 6 de septiembre de 2024, lo que podría llevar la fecha límite final al 14 de marzo de 2025. El patrocinador de la compañía, Instant Fame, depositará en la cuenta fiduciaria $25,000 o $0.05 por cada acción no redimida, lo que sea menor, como un préstamo por cada extensión implementada.
Bannix Acquisition Corp. (BNIX)는 초기 사업 조합을 완료하기 위한 기한을 한 달 연장한다고 발표했습니다. 새로운 기한은 이제 2024년 10월 14일로, 2024년 9월 14일에서 연장되었습니다. 이 연장은 2024년 9월 6일 주주들에 의해 승인된 최대 6회의 한 달 연장 시리즈의 일환으로, 최종 기한을 2025년 3월 14일로 연장할 수 있습니다. 회사의 스폰서인 Instant Fame는 신탁 계좌에 각각의 연장 실행을 위한 대출로 비환급 주식 당 $25,000 또는 $0.05 중 적은 금액을 예치할 것입니다.
Bannix Acquisition Corp. (BNIX) a annoncé une extension d'un mois de son délai pour compléter une combinaison commerciale initiale. La nouvelle date limite est désormais le 14 octobre 2024, prolongée depuis le 14 septembre 2024. Cette extension fait partie d'une série d'une année d'approbations des actionnaires le 6 septembre 2024, pouvant potentiellement repousser la date limite finale au 14 mars 2025. Le sponsor de la société, Instant Fame, déposera sur le compte fiduciaire soit 25 000 $ soit 0,05 $ par action non échangée, selon le montant le plus bas, en tant que prêt pour chaque extension mise en œuvre.
Bannix Acquisition Corp. (BNIX) hat eine einmonatige Verlängerung seiner Frist zur Durchführung einer ersten Geschäftskombination angekündigt. Die neue Frist ist jetzt der 14. Oktober 2024, verlängert vom 14. September 2024. Diese Verlängerung ist Teil einer Reihe von bis zu sechs einmonatigen Verlängerungen, die von den Aktionären am 6. September 2024 genehmigt wurden und möglicherweise die endgültige Frist auf den 14. März 2025 verschieben. Der Sponsor des Unternehmens, Instant Fame, wird entweder $25.000 oder $0,05 pro nicht eingelöster Aktie in das Treuhandkonto einzahlen, je nachdem, welcher Betrag niedriger ist, als Darlehen für jede durchgeführte Verlängerung.
- Stockholders approved the option for multiple deadline extensions, providing flexibility for the company
- The sponsor's commitment to deposit funds for each extension demonstrates continued support
- Repeated extensions may indicate difficulties in finding or finalizing a suitable business combination
- Additional deposits into the trust account could increase financial obligations
WILMINGTON, Del., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (“Bannix”) announced today that its board of directors (the “Board”) has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from September 14, 2024 for an additional month, to October 14, 2024.
As previously disclosed, at an annual meeting of its stockholders held on September 6, 2024, Bannix’ stockholders voted in favor of a proposal to amend Bannix’s Amended and Restated Certificate of Incorporation (as amended, the “Amended Charter”) to provide Bannix with the right to extend the Deadline Date up to six times for an additional one month each time (the “Extension”) until March 14, 2025.
Also as previously announced, if an Extension is implemented, the sponsor of Bannix, Instant Fame LLC (the “Sponsor”), or its designees will deposit into the trust account, as a loan, the lesser of (x)
On September 13, 2024, the Board, at the request of the Sponsor, decided to implement the nineteenth Extension and to extend the Deadline Date for an additional month to October 14, 2024.
About Bannix Acquisition Corp.
Bannix Acquisition Corp. 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, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release and oral statements made from time to time by representatives of the Company may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact :
Bannix Acquisition Corp
Douglas Davis, CEO
(302) 305-4790
doug.davis@bannixacquisition.com
FAQ
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