99 Acquisition Group Inc. Announces the Separate Trading of its Share of Class A Common Stock, Warrants and Rights

Rhea-AI Summary

99 Acquisition Group Inc. (NNAGU) announces that holders of units from its IPO can now trade the shares of Class A common stock, warrants, and rights separately.

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• Holders of units from the IPO can now trade the shares of Class A common stock, warrants, and rights separately.

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• None.

GAITHERSBURG, MD, Oct. 09, 2023 (GLOBE NEWSWIRE) -- 99 Acquisition Group Inc. (Nasdaq: “NNAGU”) (the “Company”) announced today that commencing October 9, 2023, holders of the units sold in the Company's initial public offering of 7,500,000 units (the “Units”) may elect to separately trade the shares of Class A common stock, warrants and rights included in the Units. Those Units not separated will continue to trade on the Nasdaq Global Market (the “Nasdaq”) under the symbol “ NNAGU “. The Class A common stock, warrants and rights that are separated will trade on the Nasdaq under the symbols "NNAG”, “NNAGW” and “NNAGR,” respectively. Each unit consists of one share of Class A common stock, one redeemable warrant and one right to receive one-fifth (1/5) of a share of Class A common stock upon the consummation of an initial business combination. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Holders of the Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, in order to separate the Units into shares of Class A common stock, warrants and rights.

The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from EF Hutton, division of Benchmark Investments, LLC, Attn: Syndicate Department, 590 Madison Ave., 39th Floor, New York, New York 10022, by telephone at (212) 404-7002, by fax at (646) 861-4697, or by email at syndicate@efhuttongroup.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About 99 Acquisition Group Inc.

99 Acquisition Group Inc. is a newly incorporated blank check company incorporated as a Delaware corporation 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 includes forward looking statements that involve risks and uncertainties. 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 registration statement and prospectus for the offering filed with the SEC. The Company expressly disclaims any obligations or undertaking 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.

Company Contact:

Hiren Patel
Chairman and Chief Executive Officer
99 Acquisition Group, Inc.
(703) 371-4260
hpatel@intelvative.com

FAQ

When can holders of units from the IPO trade the shares of Class A common stock, warrants, and rights separately?

Starting from October 9, 2023.

Where will the separated Class A common stock, warrants, and rights trade?

The separated securities will trade on the Nasdaq under the symbols NNAG, NNAGW, and NNAGR, respectively.

What does each unit from the IPO consist of?

Each unit consists of one share of Class A common stock, one redeemable warrant, and one right to receive one-fifth (1/5) of a share of Class A common stock upon the consummation of an initial business combination.

What is the price to purchase one share of Class A common stock with a whole warrant?

The price to purchase one share of Class A common stock with a whole warrant is $11.50 per share.

How can holders of units separate them into shares of Class A common stock, warrants, and rights?

Holders of the units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company's transfer agent, to separate the units.