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Bannix Acquisition Corp. - BNIX STOCK NEWS

Welcome to our dedicated page for Bannix Acquisition news (Ticker: BNIX), a resource for investors and traders seeking the latest updates and insights on Bannix Acquisition stock.

Bannix Acquisition Corp. (NASDAQ: BNIX) is a blank check company, also known as a Special Purpose Acquisition Company (SPAC). The primary aim of Bannix Acquisition Corp. is to identify and merge with a promising business, thereby taking it public. This strategic initiative allows private companies to gain access to the capital markets without going through the traditional IPO process.

Recently, Bannix has made significant strides in the autonomous vehicle sector. In a notable development, Bannix entered into a definitive Patent Purchase Agreement with GBT Technologies Inc. (OTC Pink: GTCH) to acquire the Apollo IP system for $42.5 million. The Apollo system includes four granted patents and one pending patent, focusing on radio frequency-based computer vision technology. This technology aims to enhance the perception and mapping capabilities of autonomous vehicles in various lighting and weather conditions.

The Apollo system will be integrated into Evie Autonomous, a UK-based autonomous vehicle technology company acquired by Bannix earlier this year. Evie Autonomous is known for its driverless platforms designed to revolutionize logistics, public services, and mass transit. One of their notable projects includes the deployment of autonomous electric pods at London Heathrow Airport, which transport passengers from parking areas to Terminal 5.

Bannix's CEO, Doug Davis, highlighted the synergy between Evie Autonomous's existing technologies and the Apollo system. Evie's technologies already include precise radio frequency-based radar technology, which Apollo's advanced AI algorithms can further enhance. The combined capabilities are expected to offer superior navigation, obstacle avoidance, and route mapping, making these technologies highly suitable for various applications, including airports, shipping ports, security, warehousing, and healthcare.

The global market for autonomous vehicles is projected to grow significantly, with estimates suggesting an increase from $147.5 billion in 2022 to $4.2 trillion by 2032. This growth is driven by government investments, improved safety and security features, and enhanced navigation abilities. Bannix's strategic acquisitions and partnerships position it to be a significant player in this burgeoning market.

For investors, Bannix Acquisition Corp. represents a unique opportunity to invest in cutting-edge autonomous vehicle technologies and participate in the rapid growth of this innovative sector.

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Bannix Acquisition Corp. extends the Deadline Date for an initial business combination to March 14, 2024, following stockholder approval for up to 12 extensions. Instant Fame LLC to deposit funds into the trust account for each unredeemed share.
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Bannix Acquisition Corp. has extended the date for its initial business combination by a month, with the right to extend up to 12 times. The sponsor, Instant Fame LLC, will deposit a loan into the trust account if an extension is implemented.
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Bannix Acquisition Corp. (Bannix) has extended the Deadline Date for its initial business combination to January 14, 2024, following a stockholder vote to amend the Amended Charter. The Sponsor, Instant Fame LLC, will deposit funds into the trust account for the extension.
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Bannix Acquisition Corp. (BANNIX) Extends Deadline for Initial Business Combination
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Bannix Acquisition Corp. extends the deadline for its initial business combination by one month.
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Bannix extends business combination deadline to October 14, 2023.
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Bannix Acquisition Corp. received a letter from NASDAQ stating non-compliance with listing rule due to missing quarterly report. They have 60 days to submit a plan for regaining compliance. No immediate effect on stock listing.
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GBT Technologies (OTC Pink: GTCH) enters into a Patent Purchase Agreement with Bannix Acquisition Corp. (NASDAQ: BNIX) for the acquisition of the Apollo IP system for a $42.5 million purchase price. The Apollo system provides autonomous vehicles with superior perception and mapping capabilities. The agreement will benefit Evie Autonomous, a U.K.-based autonomous vehicle technology company acquired by Bannix, and opens opportunities in markets like shipping ports, security, warehousing, and healthcare. The global Autonomous Vehicles market is projected to grow to $4.2 trillion by 2032, with a CAGR of 41 percent. This deal is significant for GBT's IP portfolio strategy.
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Bannix Acquisition Corp. is set to acquire GBT Technologies Inc.'s Apollo IP system for $42.5 million in shares of Preferred Stock. The Apollo IP system is a radio frequency-based computer vision technology that provides autonomous vehicles with advanced perception and mapping capabilities. It uses radio waves to transmit and receive data, creating a 3D image of the surrounding area. This technology can detect objects at longer distances and with greater accuracy than traditional sensors and is not affected by lighting conditions or weather. The acquisition aims to enhance Bannix's autonomous vehicle perception technology.
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Bannix Acquisition Corp. (Bannix) Extends Deadline Date for Business Combination by One Month, Following Shareholder Approval and Sponsor's Request
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FAQ

What is the current stock price of Bannix Acquisition (BNIX)?

The current stock price of Bannix Acquisition (BNIX) is $11.09 as of October 2, 2024.

What is the market cap of Bannix Acquisition (BNIX)?

The market cap of Bannix Acquisition (BNIX) is approximately 45.3M.

What is Bannix Acquisition Corp.?

Bannix Acquisition Corp. is a blank check company focused on merging with businesses to take them public.

What recent acquisition has Bannix made?

Bannix recently acquired the Apollo IP system from GBT Technologies for $42.5 million to enhance autonomous vehicle technology.

What is the Apollo IP system?

The Apollo IP system is a radio frequency-based computer vision technology aimed at improving the perception and mapping capabilities of autonomous vehicles.

What is Evie Autonomous?

Evie Autonomous is a UK-based company specializing in driverless platforms for logistics, public services, and mass transit. Bannix acquired Evie earlier this year.

How will the Apollo system be used?

The Apollo system will be integrated into Evie's existing technologies to offer better navigation, obstacle avoidance, and route mapping in autonomous vehicles.

What are the market projections for autonomous vehicles?

The global autonomous vehicle market is expected to grow from $147.5 billion in 2022 to $4.2 trillion by 2032.

Who are the key players in the recent technology acquisition?

The key players are Bannix Acquisition Corp., GBT Technologies Inc., and Evie Autonomous.

What makes the Apollo system unique?

The Apollo system utilizes multiple AI algorithms, including both supervised and unsupervised learning, to process data and create detailed 3D images for autonomous vehicle navigation.

What are some applications of Evie and Apollo technologies?

Applications include logistics, public services, mass transit, airport shuttles, shipping ports, security, warehousing, and healthcare.

Who can I contact for more information about Bannix?

Doug Davis, CEO of Bannix Acquisition Corp., can be contacted at (323) 682-8949 or doug.davis@bannixacquisition.com.

Bannix Acquisition Corp.

Nasdaq:BNIX

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BNIX Stock Data

45.27M
4.08M
72.85%
44.88%
0.09%
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