Nova Vision Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination to July 10, 2024
Nova Vision Acquisition Corp. (NASDAQ: NOVV) has announced an additional contribution of $69,763.37 by its IPO sponsor, Nova Pulsar Holdings , to the company's trust account. This contribution extends the timeframe for completing a business combination from June 10, 2024, to July 10, 2024. The company issued a promissory note bearing no interest, which is convertible into units at $10.00 per unit upon the closing of a business combination. Nova Vision is a special purpose acquisition company (SPAC) aiming to merge with businesses in fintech, proptech, consumertech, and supply chain management sectors.
- Additional contribution of $69,763.37 to the trust account, ensuring financial backing.
- Extension to complete a business combination from June 10, 2024, to July 10, 2024, providing more time for strategic decisions.
- Promissory note convertible into units at $10.00 per unit, potentially advantageous upon successful completion of a business combination.
- Short extension period of only one month might indicate potential delays or uncertainties in completing a business combination.
- Dependence on promissory notes and additional contributions may point to underlying financial challenges.
- No immediate business combination finalized, which could prolong uncertainty for shareholders.
Singapore, June 10, 2024 (GLOBE NEWSWIRE) -- Nova Vision Acquisition Corp. (NASDAQ: NOVV, the “Company”), a special purpose acquisition company, announced today that Nova Pulsar Holdings Limited, the Company’s initial public offering sponsor (“Sponsor”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate of
About Nova Vision Acquisition Corp.
Nova Vision Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Nova Vision Acquisition Corp. anticipates target companies that focus in the fintech, proptech, consumertech, and supply chain management industries or technology companies that serve these or other sectors.
Forward Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, including the successful consummation of the Company's initial public offering, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. 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.
Contact:
Nova Vision Acquisition Corp.
Investor Relations
info@novavisionacquisition.com
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