Bannix Acquisition Corp. ($BNIX) has announced that its board of directors has approved a one-month extension of the deadline to complete its initial business combination. The new deadline is now set for June 14, 2025, extended from May 14, 2025. This extension is part of the company's previously approved amendment that allows for up to three one-month extensions until June 14, 2025. The company's sponsor, Instant Fame LLC, will deposit into the trust account a loan amount equal to the lesser of $25,000 or $0.05 per non-redeemed share. This marks the twenty-seventh extension of the deadline for Bannix to complete its business combination.
Bannix Acquisition Corp. ($BNIX) ha annunciato che il suo consiglio di amministrazione ha approvato una proroga di un mese per completare la sua combinazione aziendale iniziale. La nuova scadenza è stata fissata al 14 giugno 2025, estendendo il termine precedente del 14 maggio 2025. Questa proroga fa parte di una modifica precedentemente approvata dalla società, che consente fino a tre estensioni mensili fino al 14 giugno 2025. Lo sponsor della società, Instant Fame LLC, depositerà sul conto fiduciario un prestito pari al minore tra 25.000 $ o 0,05 $ per azione non riscattata. Questa è la ventisettesima estensione della scadenza per Bannix per completare la sua combinazione aziendale.
Bannix Acquisition Corp. ($BNIX) ha anunciado que su junta directiva ha aprobado una prórroga de un mes para completar su combinación de negocios inicial. La nueva fecha límite es ahora el 14 de junio de 2025, extendiéndose desde el 14 de mayo de 2025. Esta extensión forma parte de una enmienda previamente aprobada por la compañía que permite hasta tres extensiones de un mes hasta el 14 de junio de 2025. El patrocinador de la compañía, Instant Fame LLC, depositará en la cuenta fiduciaria un préstamo equivalente al menor entre 25,000 $ o 0.05 $ por acción no redimida. Esta es la vigesimoséptima extensión del plazo para que Bannix complete su combinación de negocios.
Bannix Acquisition Corp.($BNIX)는 이사회의 승인을 받아 초기 사업 결합 완료 기한을 한 달 연장했다고 발표했습니다. 새로운 기한은 2025년 6월 14일로, 기존의 2025년 5월 14일에서 연장되었습니다. 이번 연장은 회사가 이전에 승인한 수정안의 일부로, 2025년 6월 14일까지 최대 세 차례의 한 달 연장을 허용합니다. 회사의 스폰서인 Instant Fame LLC는 신탁 계좌에 미상환 주식당 0.05달러 또는 25,000달러 중 더 적은 금액의 대출금을 예치할 예정입니다. 이번이 Bannix가 사업 결합을 완료하기 위한 마감일을 연장한 27번째 사례입니다.
Bannix Acquisition Corp. ($BNIX) a annoncé que son conseil d'administration a approuvé une prolongation d'un mois du délai pour finaliser sa première opération de fusion. La nouvelle date limite est désormais fixée au 14 juin 2025, reportée du 14 mai 2025. Cette prolongation fait partie d'un amendement précédemment approuvé par la société, autorisant jusqu'à trois prolongations d'un mois jusqu'au 14 juin 2025. Le sponsor de la société, Instant Fame LLC, déposera sur le compte en fiducie un prêt équivalant au moindre montant entre 25 000 $ ou 0,05 $ par action non rachetée. Il s'agit de la vingt-septième prolongation du délai pour Bannix afin de finaliser sa fusion.
Bannix Acquisition Corp. ($BNIX) hat bekanntgegeben, dass der Vorstand eine einmonatige Verlängerung der Frist zur Durchführung der ersten Unternehmensfusion genehmigt hat. Die neue Frist ist nun auf den 14. Juni 2025 festgelegt, verlängert vom 14. Mai 2025. Diese Verlängerung ist Teil einer zuvor genehmigten Änderung, die bis zu drei einmonatige Verlängerungen bis zum 14. Juni 2025 erlaubt. Der Sponsor des Unternehmens, Instant Fame LLC, wird einen Darlehensbetrag in Höhe des geringeren Betrags von 25.000 $ oder 0,05 $ pro nicht eingelöster Aktie auf das Treuhandkonto einzahlen. Dies ist die siebenundzwanzigste Verlängerung der Frist für Bannix, um die Unternehmensfusion abzuschließen.
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Negative
Continued delays in completing the initial business combination, requiring a 27th extension
Additional costs incurred through sponsor loans for each extension
Risk of potential liquidation if a business combination is not completed by the final deadline
WILMINGTON, Del., May 14, 2025 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. (“Bannix”) announced today that its board of directors (the “Board”) has decided to extend the date by which Bannix must consummate an initial business combination (the “Deadline Date”) from May 14, 2025 for an additional month, to June 14, 2025.
As previously disclosed, at a special meeting of its stockholders held on March 7, 2025, Bannix’ stockholders voted in favor of a proposal to amend Bannix’s Amended and Restated Certificate of Incorporation (as amended, the “Amended Charter”) to provide Bannix with the right to extend the Deadline Date up to three times for an additional one month each time (the “Extension”) until June 14, 2025.
Also as previously announced, if an Extension is implemented, the sponsor of Bannix, Instant Fame LLC (the “Sponsor”), or its designees will deposit into the trust account, as a loan, the lesser of (x) $25,000 and (y) $0.05 for each share that is not redeemed in connection with the special meeting.
On May 13, 2025, the Board, at the request of the Sponsor, decided to implement the twenty-seventh Extension and to extend the Deadline Date for an additional month to June 14, 2025.
About Bannix Acquisition Corp.
Bannix Acquisition Corp. is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release and oral statements made from time to time by representatives of the Company may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to the Company or its management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to the Company or persons acting on its behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, 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 Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
What is the new deadline for Bannix Acquisition Corp (BNIX) to complete its business combination?
Bannix Acquisition Corp's new deadline to complete its initial business combination is June 14, 2025, following a one-month extension from May 14, 2025.
How much will Instant Fame LLC deposit for BNIX's deadline extension?
Instant Fame LLC will deposit the lesser of $25,000 or $0.05 per non-redeemed share as a loan into the trust account.
How many extensions has BNIX implemented for its business combination deadline?
This is Bannix Acquisition Corp's twenty-seventh extension of the deadline to complete its initial business combination.
What happens if BNIX doesn't complete a business combination by June 14, 2025?
If Bannix doesn't complete a business combination by June 14, 2025, which is the final deadline after the three allowed extensions, the company may face liquidation.
Who is the sponsor of Bannix Acquisition Corp (BNIX)?
Instant Fame LLC is the sponsor of Bannix Acquisition Corp.
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