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

Rhea-AI Summary

Nocturne Acquisition Corp. (NASDAQ: MBTCU) announced a $1,150,000 deposit into its trust account, allowing an extension for its initial business combination period from July 5, 2022 to October 5, 2022. This payment translates to $0.10 per public share and aims to facilitate future acquisitions in disruptive technologies, particularly in the blockchain and artificial intelligence sectors. The Company focuses on targets with an equity value between $300 million and $1 billion.

Positive

• Extension of business combination period, enabling the Company to explore more acquisition opportunities.
• A substantial deposit of $1,150,000 demonstrates financial commitment to executing a significant business combination.

Negative

• None.

WILMINGTON, DE / ACCESSWIRE / July 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 July 5, 2022 to October 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 Corp.

View source version on accesswire.com:
https://www.accesswire.com/707490/Nocturne-Acquisition-Corp-Confirms-Funding-to-Extend-Period-to-Consummate-Initial-Business-Combination

FAQ

What is the purpose of Nocturne Acquisition Corp.'s extension payment?

The extension payment allows Nocturne Acquisition Corp. to extend the period for consummating its initial business combination by three months.

How much did Nocturne Acquisition Corp. deposit for the extension?

Nocturne Acquisition Corp. deposited a total of $1,150,000 into its trust account for public shareholders.

When does the extension period end for Nocturne Acquisition Corp.?

The extension period for Nocturne Acquisition Corp. will now end on October 5, 2022.

What sectors is Nocturne Acquisition Corp. focusing on for potential acquisitions?

Nocturne Acquisition Corp. is targeting disruptive technologies in the blockchain and artificial intelligence sectors.

What is the expected equity value of targets pursued by Nocturne Acquisition Corp.?

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