TradeUp Acquisition announces extension of business combination deadline

TradeUP Acquisition Corp. announced that, in order to extend the date by which the company must complete its initial business combination from February 19, 2023 to March 19, 2023, for each public share that is not redeemed by the company’s stockholders in connection with such Extension, the company has deposited into its trust account an aggregate of $45,511.00, representing 5c per public share of the company. The payment for such Monthly Extension Fee was made by Estrella Biopharma, Inc., a Delaware corporation, pursuant to the Agreement and Plan of Merger, entered by and among the company, Tradeup Merger Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of UPTD, and Estrella on September 30, 2022. Pursuant to the company’s current Charter, the company may extend on monthly basis from January 19, 2023 until July 19, 2023 or such an earlier date as may be determined by its board to complete a business combination by depositing the Monthly Extension Fee for each month into the Trust Account.