Learn CW Investment Corporation Extends Period to Consummate Initial Business Combination

Rhea-AI Summary

Learn CW Investment , a special purpose acquisition company (SPAC), announced an additional one-month extension to finalize its initial business combination. The new deadline is now June 13, 2024, extended from May 13, 2024. This extension, facilitated by a $150,000 deposit into the company's trust account, marks the eighth out of a possible twelve one-month extensions allowed. These extensions were authorized during the Extraordinary General Meeting held on October 11, 2023.

Positive

• The company successfully secured additional time to complete its business combination.
• The $150,000 deposit demonstrates the company's commitment to achieving its goals.
• The extension is part of a structured plan that allows up to twelve one-month extensions, indicating a clear path forward.

Negative

• The need for an eighth extension may indicate difficulties in finalizing the business combination.
• Each extension requires additional financial resources, which could strain the company's finances over time.
• The repeated extensions might create uncertainty among investors regarding the future of the business combination.

LOS ANGELES--(BUSINESS WIRE)-- Learn CW Investment Corporation (the “Company,” “we” or “our”), a special purpose acquisition company, announced today that it has further extended the period of time the Company will have to consummate its initial business combination by an additional one month from May 13, 2024 to June 13, 2024 (the “Extension”) through the timely deposit of an aggregate of $150,000 into the Company’s trust account. This Extension is the eighth of up to twelve one-month extensions permitted under the Company’s governing documents, as amended pursuant to the Extraordinary General Meeting of the Company shareholders that took place on October 11, 2023.

About the Company

Learn CW Investment Corporation is a blank check company formed as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Forward-Looking Statements

This press release 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. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertakings to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513052838/en/

Media Requests

Learn CW Investment Corporation

Harry Bator

harry@learn.vc

Source: Learn CW Investment Corporation

FAQ

What is the new deadline for Learn CW Investment to complete its business combination?

The new deadline is June 13, 2024.

How much did Learn CW Investment deposit to extend the business combination period?

The company deposited $150,000 into its trust account.

How many one-month extensions has Learn CW Investment utilized?

The company has utilized eight out of twelve possible one-month extensions.

When was the Extraordinary General Meeting that authorized these extensions?

The Extraordinary General Meeting took place on October 11, 2023.