Acri Capital Acquisition Corporation Class A (ACAC) has shared an announcement.
Acri Capital Acquisition Corporation’s stockholders have given the green light to extend the deadline for completing an initial business combination from July 14, 2023, to April 14, 2024, with the potential for further monthly extensions up to January 14, 2025. Following the approval, the company can delay liquidation by depositing $50,000 monthly into a trust account, with the first such payment allowing an extension to May 14, 2024. The company has also issued a promissory note to its sponsor in connection with this payment, which can be converted into private placement warrants. These strategic decisions signify the company’s ongoing efforts to successfully finalize its initial business combination within the newly established timeframe.
See more data about ACAC stock on TipRanks’ Stock Analysis page.
