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Fat Projects Acquisition Corp (NASDAQ:FATPU, FATP, FATPW) has announced its shareholders' approval of changes to its charter and trust agreement. This allows FATP to obtain up to nine 1-month extensions for completing its initial business combination with Avanseus Holdings Pte. Ltd.. The first extension will move the deadline from April 15, 2023, to May 15, 2023, by depositing $24,279.65 into its trust account. Following the amendments, 4,956,145 public shares were redeemed, leaving 485,593 shares outstanding. The amendments also modify the cost for extensions, now capped at $50,000 or $0.05 per outstanding share. FATP plans to change its name to Avanseus Holdings Corporation upon completion of the business combination.
On April 13, 2023, Avanseus Holdings Pte. Ltd. announced the launch of version 6.0 of its AI-powered Health and Performance Management (HPM) platform. The new version enhances data analytics capabilities and introduces the Broadband Customer Experience Impact Analysis application, targeting telecom providers and other enterprises. CEO Bhargab Mitra highlighted improved predictive capabilities for infrastructure performance, allowing better expansion planning and operational efficiency.
The platform includes applications for anomaly detection, performance degradation prediction, and enterprise customer experience forecasting. Avanseus continues to align with 5G protocols, enhancing data acquisition processes. The Business Combination with Fat Projects Acquisition Corp (FATP), which merges Avanseus as a wholly-owned subsidiary, is also progressing, with shareholder votes expected soon.
