Gardiner Healthcare Acquisitions Corp. Announces Intent to Extend

Rhea-AI Summary

Gardiner Healthcare Acquisitions Corp. plans to deposit $100,000 to extend the deadline for its initial business combination by one month. The extension is approved by the Board of Directors and the funds will be deposited before October 27, 2023. If the extension is not funded, the company will wind up operations and redeem public shares.

Positive

• Gardiner Healthcare Acquisitions Corp. will extend the deadline for its initial business combination by one month. The company plans to deposit $100,000 into the trust account before October 27, 2023.

Negative

• If the extension is not funded, the company will cease operations and liquidate.

SHAKER HEIGHTS, Ohio--(BUSINESS WIRE)-- Gardiner Healthcare Acquisitions Corp. (the “Company”) announced today that it intends to deposit, or have deposited, into the Company's trust account the amount of $100,000 in order to extend the period of time the Company has to consummate its initial business combination by an additional one month, from the current deadline of October 27, 2023 to November 27, 2023 (the "Extension"). At least five days prior to the October 27, 2023 deadline, the Company received notice from Gardiner Healthcare Holdings, LLC that it intends to finance the deposit of funds into the Trust Account for extending the deadline and the Board of Directors of the Company has approved the Extension. In connection with the Extension, the Company intends to have the additional funds deposited into the trust account on or before the current deadline of October 27, 2023. None of the Company’s insiders, including our officers, directors or stockholders (such as Gardiner Healthcare Holdings, LLC), is required to provide any financing to us in connection with the intended deposit of the required funds into the trust account in relation to the Extension or otherwise in relation to any prospective initial business combination. If the Extension is not funded, the Company will: (i) cease all operations except for the purpose of winding up; (ii) redeem 100% of the public shares; and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders and our Board of Directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on the healthcare or healthcare related industries. The Company is sponsored by Gardiner Healthcare Holdings, LLC, Chardan Gardiner LLC, and CCMAUS Pty Ltd.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231024674708/en/

Marc F. Pelletier, PhD

ir@gardinerhealthcare.com

Source: Gardiner Healthcare Acquisitions Corp.

FAQ

What is Gardiner Healthcare Acquisitions Corp. planning to do?

Gardiner Healthcare Acquisitions Corp. plans to deposit $100,000 to extend the deadline for its initial business combination by one month.

What happens if the extension is not funded?

If the extension is not funded, the company will wind up operations and redeem public shares.