99 Acquisition Group, Inc. Announces Contribution to Trust Account to Extend Period to Consummate Business Combination
99 Acquisition Group announced that its sponsor deposited $750,000 into the trust account, extending the period to complete a business combination by three months, from May 22, 2024, to August 22, 2024. This extension, the first of two possible three-month extensions, provides additional time to finalize the merger with Nava Health MD, Inc. The merger agreement, signed on February 12, 2024, will result in Nava Health becoming a wholly-owned subsidiary of 99 Acquisition Group.
- 99 Acquisition Group secured a $750,000 extension deposit, ensuring additional time to complete its business combination.
- The merger with Nava Health, planned to make it a wholly-owned subsidiary, is progressing with an extended deadline.
- The company has a governing provision allowing for up to two three-month extensions to finalize the merger.
- The need for a $750,000 extension might indicate potential delays or challenges in finalizing the business combination.
- The extension could signal uncertainties surrounding the completion of the merger within the initial timeframe.
GAITHERSBURG, MD, May 24, 2024 (GLOBE NEWSWIRE) -- 99 Acquisition Group, Inc. (the “Company” or “99 Acquisition”), a special purpose acquisition company, announced that 99 Acquisition Sponsor LLC, the Company’s sponsor, deposited an aggregate of
As previously announced, the Company entered into a Merger Agreement with Nava Health MD, Inc. (“Nava Health”), dated February 12, 2024, pursuant to which the Company will acquire
About 99 Acquisition
99 Acquisition Group, Inc. (Nasdaq: NNAG) is a blank check company that was formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.
About Nava Health
Nava Health is a vertically integrated, tech-enabled healthcare practice combining integrative, functional, preventive, and regenerative medicine. Nava Health’s innovative medical practice uses a data-driven, personalized approach to optimize health and increase longevity. Nava Health provides each client with an individualized wellness roadmap tailored to their specific symptoms, medical needs, and personal goals. All client wellness roadmaps result from a proprietary diagnostic process, the "Nava Method," which utilizes data and specially designed software to create optimal personalized client outcomes. To learn more visit navacenter.com.
Important Information about the Proposed Business Combination and Where to Find It
This press release relates to a proposed transaction between 99 Acquisition and Nava Health. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the proposed business combination, 99 Acquisition has filed a registration statement on Form S-4 containing a proxy statement/prospectus (the "Registration Statement") with the SEC, and 99 Acquisition and Nava Health intend to file other relevant materials with the SEC. The Registration Statement includes a proxy statement/prospectus to be distributed to holders of 99 Acquisition's common stock in connection with 99 Acquisition's solicitation of proxies for the vote by 99 Acquisition's stockholders with respect to the proposed transaction and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of securities to be issued to Nava Health's shareholders in connection with the proposed business combination. After the Registration Statement has been filed and declared effective, 99 Acquisition will mail a definitive proxy statement, when available, to its stockholders.
Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about 99 Acquisition, Nava Health and the proposed business combination. Copies of these documents may be obtained free of charge at the SEC's website at www.sec.gov. The documents filed by 99 Acquisition with the SEC also may be obtained free of charge upon written request to 99 Acquisition at c/o 99 Acquisition Corp., 14 Noblewood Ct, Gaithersburg, MD 20878.
Participants in the Solicitation
99 Acquisition and its directors and executive officers may be deemed participants in the solicitation of proxies from 99 Acquisition's securityholders with respect to the proposed transaction under the rules of the SEC. Securityholders may obtain more detailed information regarding the names, affiliations, and interests of certain executive officers and directors of 99 Acquisition in the solicitation by reading 99 Acquisition's Registration Statement and other relevant materials filed with the SEC in connection with the proposed transaction when they become available. Information about 99 Acquisition's directors and executive officers and their ownership of 99 Acquisition's common stock and other information regarding the interests of participants in the proxy solicitation, which, in some cases, may be different from those of 99 Acquisition's securityholders generally, is set forth in the Registration Statement. These documents can be obtained free of charge at the SEC's web site at www.sec.gov.
Nava Health and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from 99 Acquisition's securityholders in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction is included in the Registration Statement for the proposed transaction.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.
Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements about the parties' ability to close the proposed transaction, the anticipated benefits of the proposed transaction, and the financial condition, results of operations, earnings outlook and prospects of 99 Acquisition and/or the proposed transaction and may include statements for the period following the consummation of the proposed transaction. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements are based on the current expectations of the management of 99 Acquisition and Nava Health, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including: risks related to Nava Health's businesses and strategies; the ability to complete the proposed transaction due to the failure to obtain approval from the shareholders of 99 Acquisition and/or Nava Health or satisfy other closing conditions set forth in the Merger Agreement; the amount of any redemptions by existing holders of 99 Acquisition's common stock; the ability to recognize the anticipated benefits of the proposed transaction; other risks and uncertainties included under the header "Risk Factors" in the Registration Statement filed by 99 Acquisition and Nava Health, in the final prospectus of 99 Acquisition for its initial public offering dated August 21, 2023; and in 99 Acquisition's other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Nava Health and 99 Acquisition assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Nava Health nor 99 Acquisition gives any assurance that Nava Health, 99 Acquisition or the combined company will achieve its expectations.
For more information contact:
99 Acquisition Group, Inc.
Hiren Patel, CEO
Phone: 703-371-4260
Email: hpatel@intelvative.com
FAQ
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