Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
Bannix Acquisition Corp (BNIX) has announced its board's decision to extend the deadline for completing its initial business combination. The extension moves the deadline from March 14, 2025 to April 14, 2025.
This extension follows a special stockholders' meeting on March 7, 2025, where shareholders approved an amendment to the company's Certificate of Incorporation allowing up to three one-month extensions until June 14, 2025. The company's sponsor, Instant Fame , will provide a loan to the trust account of either $25,000 or $0.05 per non-redeemed share, whichever is less.
Bannix Acquisition Corp (BNIX) ha annunciato la decisione del suo consiglio di estendere la scadenza per completare la sua combinazione aziendale iniziale. L'estensione sposta la scadenza dal 14 marzo 2025 al 14 aprile 2025.
Questa estensione segue una riunione speciale degli azionisti del 7 marzo 2025, in cui gli azionisti hanno approvato una modifica al Certificato di Incorporazione della società, consentendo fino a tre estensioni mensili fino al 14 giugno 2025. Lo sponsor della società, Instant Fame, fornirà un prestito al conto fiduciario di $25,000 o $0.05 per azione non riscattata, a seconda di quale sia il minore.
Bannix Acquisition Corp (BNIX) ha anunciado la decisión de su junta de extender el plazo para completar su combinación empresarial inicial. La extensión mueve la fecha límite del 14 de marzo de 2025 al 14 de abril de 2025.
Esta extensión sigue a una reunión especial de accionistas el 7 de marzo de 2025, donde los accionistas aprobaron una enmienda al Certificado de Incorporación de la compañía que permite hasta tres extensiones mensuales hasta el 14 de junio de 2025. El patrocinador de la compañía, Instant Fame, proporcionará un préstamo a la cuenta fiduciaria de $25,000 o $0.05 por acción no redimida, lo que sea menor.
Bannix Acquisition Corp (BNIX)는 초기 사업 결합 완료 기한을 연장하기로 한 이사회의 결정을 발표했습니다. 이 연장은 기한을 2025년 3월 14일에서 2025년 4월 14일로 이동시킵니다.
이 연장은 2025년 3월 7일에 열린 특별 주주총회 이후에 이루어졌으며, 주주들은 회사의 정관 수정안을 승인하여 2025년 6월 14일까지 최대 세 번의 한 달 연장을 허용했습니다. 회사의 후원사인 Instant Fame는 신탁 계좌에 $25,000 또는 미상환 주식당 $0.05 중 적은 금액으로 대출을 제공할 것입니다.
Bannix Acquisition Corp (BNIX) a annoncé la décision de son conseil d'administration d'étendre le délai pour finaliser sa combinaison d'affaires initiale. L'extension déplace la date limite du 14 mars 2025 au 14 avril 2025.
Cette extension fait suite à une assemblée générale extraordinaire des actionnaires le 7 mars 2025, où les actionnaires ont approuvé un amendement au Certificat d'Incorporation de la société permettant jusqu'à trois extensions d'un mois jusqu'au 14 juin 2025. Le sponsor de la société, Instant Fame, fournira un prêt au compte fiduciaire de 25 000 $ ou 0,05 $ par action non échangée, selon le montant le plus bas.
Bannix Acquisition Corp (BNIX) hat die Entscheidung seines Vorstands bekannt gegeben, die Frist für den Abschluss seiner ursprünglichen Unternehmenszusammenführung zu verlängern. Die Frist wird vom 14. März 2025 auf den 14. April 2025 verschoben.
Diese Verlängerung folgt auf eine außerordentliche Hauptversammlung der Aktionäre am 7. März 2025, bei der die Aktionäre eine Änderung der Satzung des Unternehmens genehmigten, die bis zu drei einmonatige Verlängerungen bis zum 14. Juni 2025 erlaubt. Der Sponsor des Unternehmens, Instant Fame, wird dem Treuhandkonto ein Darlehen von $25,000 oder $0.05 pro nicht eingelöster Aktie zur Verfügung stellen, je nachdem, was geringer ist.
- Successful shareholder approval for extension provides more time to complete business combination
- Sponsor's commitment to provide additional funding shows continued support
- Delay in completing initial business combination indicates potential difficulties in finding suitable merger target
- Additional extension may create uncertainty for investors
- Extension requires additional capital contribution from sponsor
WILMINGTON, Del., March 14, 2025 (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 March 14, 2025 for an additional month, to April 14, 2025.
As previously disclosed, at a special meeting of its stockholders held on March 7, 2025, 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 three times for an additional one month each time (the “Extension”) until June 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 March 12, 2025, the Board, at the request of the Sponsor, decided to implement the twenty-fifth Extension and to extend the Deadline Date for an additional month to April 14, 2025.
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) 305-479
doug.davis@bannixacquisition.com
FAQ
What is the new deadline for Bannix (BNIX) to complete its initial business combination?
How many extension periods can BNIX utilize according to the amended charter?
What financial commitment is Instant Fame making for the BNIX extension?
When did BNIX shareholders approve the extension amendments?
