Forum Merger IV Corporation Announces Extension of Deadline to Complete Initial Business Combination
Forum Merger IV Corporation (Nasdaq: FMIV) has announced an extension of its business combination Deadline Date from April 22, 2023, to May 22, 2023. This extension is part of an agreement allowing for up to seven monthly extensions until November 22, 2023. The board’s decision aims to provide additional time to finalize an initial business combination. To support this extension, FMIV deposited $175,000 into its trust account. As a blank check company established for mergers and acquisitions across various industries, FMIV remains focused on identifying potential business combinations while navigating the uncertainties typical of early-stage companies.
- Extension of the Deadline Date allows for more time to secure a business combination.
- FMIV has the option for six additional one-month extensions until November 22, 2023.
- $175,000 deposit into the trust account signifies financial commitment towards the acquisition process.
- Initial business combination deadline extended suggests potential challenges in identifying or securing a target company.
New York, NY, April 18, 2023 (GLOBE NEWSWIRE) -- Forum Merger IV Corporation (Nasdaq: FMIV) (“FMIV” or the “Company”) announced today that its board of directors (the “Board”) has elected to extend the date by which FMIV has to consummate a business combination (the “Deadline Date”) from April 22, 2023 for an additional month to May 22, 2023, the first of seven potential one-month extensions of the Deadline Date available to FMIV.
FMIV’s amendment to its Amended and Restated Certificate of Incorporation (the “Amended Charter”) extended the Deadline Date from March 22, 2023 to April 22, 2023 and provided FMIV with the right to extend the date by which it must consummate an initial business combination up to seven times for an additional one month each time up to November 22, 2023. On April 17, 2023, pursuant to the Amended Charter, the Board determined to extend the Deadline Date to May 22, 2023 to allow additional time for FMIV to complete its initial business combination. In connection with the Board’s determination to extend the Deadline Date to May 22, 2023,
About Forum Merger IV Corporation
Forum Merger IV Corporation is a blank check company incorporated in Delaware on January 15, 2021. The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. The Company is not limited to a particular industry or sector for purposes of consummating a business combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.
Forward-Looking Statements
This press release may include, 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. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other 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 the Company’s management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of 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 United States Securities and Exchange Commission (the “SEC”). All subsequent written or oral forward-looking statements attributable to the Company or persons acting on the Company’s 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 Annual Report on Form 10-K filed with the SEC on March 31, 2023, any subsequent Quarterly Report on Form 10-Q filed with the SEC and in the other reports we file 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:
David Boris
(212) 739-7860
david@forummerger.com
www.forummerger.com
FAQ
What is the new Deadline Date for Forum Merger IV Corporation?
How many extensions can Forum Merger IV Corporation utilize for its Deadline Date?
Why did Forum Merger IV Corporation extend its Deadline Date?
What financial action did Forum Merger IV Corporation take in connection with the extension?
