Nocturne Acquisition Corp. Confirms Funding to Extend Period to Consummate Initial Business Combination

Rhea-AI Summary

Nocturne Acquisition Corp. (NASDAQ:MBTCU) has deposited $1,150,000 in its trust account, equating to $0.10 per public share. This extension allows the company to extend the deadline for its initial business combination by three months, from April 5, 2022 to July 5, 2022. The company aims to pursue acquisitions in sectors focusing on disruptive technologies in blockchain and artificial intelligence, targeting equity values between $300 million and $1 billion.

Positive

• Successful deposit of $1,150,000 enhances available funds for business combination.
• Extension allows additional time to identify a suitable merger or acquisition target.

Negative

• No significant acquisition targets identified yet, which may raise concerns among investors.

WILMINGTON, DE / ACCESSWIRE / April 5, 2022 / Nocturne Acquisition Corp. (NASDAQ:MBTCU) (the "Company"), announced today that an aggregate of $1,150,000 (the "Extension Payment") has been deposited into the Company's trust account for its public shareholders, representing $0.10 per public share, which enables the Company to extend the period of time it has to consummate its initial business combination by three months from April 5, 2022 to July 5, 2022 (the "Extension").

About Nocturne Acquisition Corp.

The Company is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. While the Company may pursue an acquisition opportunity in any industry or sector, the Company focuses its search for targets bringing to market disruptive technologies in the blockchain/crypto and artificial intelligence technology sectors. Equity value of potential targets is expected to be in the $300 million to $1 billion USD range.

Cautionary Note Regarding 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 us or our 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 Securities and Exchange Commission ("SEC"). All subsequent written or oral forward-looking statements attributable to us or persons acting on our 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.

MBTC Company/Media Contact:

investors@nocturnecorp.com

media@nocturnecorp.com

MBTC Investor Relations Contact:

Chris Tyson/Doug Hobbs
SPAC Alpha IR+
(949) 491-8235
MBTC@mzgroup.us

SOURCE: Nocturne Acquisition Corporation

View source version on accesswire.com:
https://www.accesswire.com/696161/Nocturne-Acquisition-Corp-Confirms-Funding-to-Extend-Period-to-Consummate-Initial-Business-Combination

FAQ

What is Nocturne Acquisition Corp.'s recent funding announcement regarding MBTCU?

Nocturne Acquisition Corp. announced a $1,150,000 deposit into its trust account to extend the time for completing its initial business combination.

How will the deposit affect Nocturne Acquisition Corp.'s ability to find acquisition targets?

The deposit allows Nocturne Acquisition Corp. additional time until July 5, 2022, to seek and finalize suitable acquisition targets.

What sectors does Nocturne Acquisition Corp. target for acquisitions?

The company focuses on disruptive technologies in the blockchain and artificial intelligence sectors.

What is the significance of the extension period for MBTCU shareholders?

The extension period provides shareholders more assurance that the company is actively seeking suitable business combinations to enhance shareholder value.

What are the expected equity values for potential targets of Nocturne Acquisition Corp.?

The expected equity value for potential acquisition targets is between $300 million and $1 billion.