Acri Capital Acquisition Corporation Class A (ACAC) has released an update.
Acri Capital Acquisition Corporation has secured an additional month, until March 14, 2024, to finalize its initial business combination by depositing $75,000 into its trust account for public shareholders. This deposit is part of a series of extensions allowed by the company’s governing documents and is accompanied by a corresponding promissory note to the company’s sponsor. The note can be converted into warrants under specific conditions, as detailed in the company’s prospectus. This financial maneuver is aimed at providing the company with more time to achieve its business objectives while keeping investors informed through a press release.
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