HHG Capital Corporation Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination

Rhea-AI Summary

HHG Capital has announced an extension to its deadline for completing a business combination. The company deposited $0.0333 per outstanding ordinary share into its trust account on August 23, 2024, extending the completion period by one month to September 23, 2024.

This extension applies to shares issued in the company's initial public offering that have not been redeemed and are held by shareholders who haven't waived their rights to receive extension payments. The extension payments have been ongoing since September 23, 2022.

The primary purpose of this extension is to provide HHG Capital with additional time to finalize a business combination, demonstrating the company's commitment to finding a suitable merger or acquisition target.

SINGAPORE, SINGAPORE / ACCESSWIRE / August 23, 2024 / HHG Capital Corporation (the "Company") announced today that the Company made a deposit on August 23, 2024 to the trust account and extended the amount of time it has available to complete a business combination from August 23, 2024 to September 23, 2024, by depositing $0.0333 for each issued and outstanding company ordinary share issued in the Company's initial public offering that has not been redeemed held by shareholders who have not waived rights to receive any portion of any extension payment deposited by the Company in connection with its extension starting from September 23, 2022. The purpose of the extension is to provide time for the Company to complete a business combination.

About HHG Capital Corporation

The Company is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on industries that complement its management team's background. The Company is led by Chee Shiong (Keith) Kok, the Company's Chief Executive Officer, and Shuk Man (Lora) Chan, the Company's Chief Financial Officer.

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 Company's search for an initial business combination, 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:

HHG Capital Corporation
Chee Shiong (Keith) Kok
Chief Executive Officer
1 Commonwealth Lane
#03-20, Singapore, 149544
Email: hhgcapitalcorp@gmail.com

SOURCE: HHG Capital Corp

View the original press release on accesswire.com

FAQ

What did HHG Capital announce on August 23, 2024?

HHG Capital announced an extension of the period to consummate a business combination from August 23, 2024 to September 23, 2024, by making an additional contribution to its trust account.

How much did HHG Capital deposit per share for the extension?

HHG Capital deposited $0.0333 for each issued and outstanding ordinary share that has not been redeemed and is held by eligible shareholders.

When did HHG Capital start making extension payments?

HHG Capital has been making extension payments since September 23, 2022.

What is the purpose of HHG Capital 's extension?

The purpose of the extension is to provide additional time for HHG Capital to complete a business combination.

Which shareholders are eligible for the extension payment from HHG Capital ?

Shareholders who hold non-redeemed shares issued in the company's initial public offering and have not waived their rights to receive extension payments are eligible.