Acri Capital Acquisition (Nasdaq: ACAC), a special purpose acquisition company, has announced an extension of its deadline for completing an initial business combination. The new deadline has been moved from September 14, 2024, to October 14, 2024.
To facilitate this extension, Foxx Development Inc., the target of the Company's business combination, has deposited $50,000 into the Company's trust account. This payment is part of the Company's provision allowing monthly extensions from April 14, 2024, until January 14, 2025, or an earlier date determined by the board.
The extension mechanism is outlined in the Company's Amended and Restated Certificate of Incorporation, which permits monthly extensions by depositing the required payment into the Trust Account for each additional month.
Acri Capital Acquisition (Nasdaq: ACAC) announced that stockholders have approved its business combination with Foxx Development Inc., a consumer electronics and IoT solutions company. The special meeting saw 96.9% of votes cast in favor of the merger. The combined entity will be renamed Foxx Development Holdings Inc. and is expected to trade on Nasdaq under the symbols FOXX and FOXXW for common stock and warrants, respectively. The transaction is anticipated to close within the next month, subject to satisfying closing conditions. This merger marks a significant step for both companies, potentially creating synergies in the consumer electronics and IoT sectors.
Acri Capital Acquisition (Nasdaq: ACAC), a special purpose acquisition company, announced an extension of the deadline for its initial business combination from July 14, 2024, to August 14, 2024. To facilitate this extension, Acri Capital Sponsor has deposited $50,000 into the company's trust account. According to the company's Amended and Restated Certificate of Incorporation, Acri Capital can extend the deadline on a monthly basis by making similar payments until January 14, 2025, or an earlier date as determined by its board. This extension allows Acri Capital additional time to finalize its business combination plans.
Acri Capital Acquisition (Nasdaq: ACAC), a special purpose acquisition company, announced an extension of its deadline for completing an initial business combination from June 14, 2024, to July 14, 2024.
This extension was made possible by a deposit of $50,000 into the company's trust account by Acri Capital Sponsor
Per the company's amended certificate, monthly extensions can continue until January 14, 2025, or an earlier date as decided by the board, with a $50,000 deposit required each month.
Acri Capital Acquisition has extended the deadline for its initial business combination from May 14, 2024 to June 14, 2024 by depositing $50,000 into its trust account. The company can continue extending the deadline monthly until January 14, 2025 or an earlier date as decided by its board.
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