Black Hawk Acquisition Corporation Amends Its Definitive Proxy Statement

Rhea-AI Summary

Black Hawk Acquisition Corporation (NASDAQ: BKHAU) has filed a supplement to its June 10, 2025 definitive proxy statement, modifying the Trust Amendment Proposal. The key change removes the phrase "up to $55,000 per one-month extension" and establishes a fixed calculation method for extension fees. The new formula sets the extension fee at $0.033 multiplied by the number of outstanding public shares post-redemption for each one-month extension of the business combination deadline. This amendment eliminates discretionary deposits and provides more transparency regarding extension fee obligations.

Positive

• Provides greater clarity and transparency for shareholders regarding extension fee calculations
• Establishes a fixed formula for extension payments, eliminating company discretion
• Ensures consistent treatment of all shareholders through standardized extension fee structure

Negative

• Company requires extension of deadline to complete initial business combination, indicating potential delays
• Shareholders will incur additional costs through extension fees
• Suggests possible challenges in completing a business combination within original timeline

DANVILLE, Calif., June 20, 2025 (GLOBE NEWSWIRE) -- Black Hawk Acquisition Corporation (NASDAQ: BKHAU, the “Company”) announced today that it filed a supplement to its definitive proxy statement, originally file with the Securities and Exchange Commission on June 10, 2025, to amend the language of the Trust Amendment Proposal. Specifically, the amendment removes the words “up to $55,000 per one-month extension”. As revised, the Trust Amendment Proposal provides that the Company will deposit in to the trust account an amount equal to $0.033 multiplied by the number of ordinary shares sold to the public in the Company’s initial public offering and that remain outstanding after giving effect to the shares that are redeemed in connection with the vote on the Trust Amendment Proposal, for each one-month extension of the deadline to consummate an initial business combination.

This change eliminates the Company’s discretion to deposit a lesser amount and ensures greater clarity and consistency regarding the extension fee obligation.

About Black Hawk Acquisition Corporation

Black Hawk Acquisition Corporation 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. The Company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.

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 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
Kent Kaufman
Chief Executive Officer
Email: kent@bhspac.com
Tel: (925) 217-4482

FAQ

What changes did Black Hawk Acquisition Corp (BKHAU) make to its Trust Amendment Proposal?

BKHAU removed the phrase 'up to $55,000 per one-month extension' and established a fixed calculation of $0.033 multiplied by the number of outstanding public shares for each monthly extension.

How much will BKHAU pay for each month of extension?

The company will pay $0.033 multiplied by the number of outstanding public shares that remain after redemptions for each one-month extension.

Why did BKHAU amend its Trust Amendment Proposal?

The amendment was made to eliminate company discretion in deposit amounts and provide greater clarity and consistency regarding extension fee obligations.

When did BKHAU file its original definitive proxy statement?

Black Hawk Acquisition Corporation filed its original definitive proxy statement on June 10, 2025.

What is the impact of this amendment on BKHAU shareholders?

Shareholders will receive a fixed, transparent extension fee payment of $0.033 per share for each month the company extends its business combination deadline.