Cetus Capital Acquisition Corp. Class A (CETU) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Cetus Capital Acquisition Corp. stockholders have approved an extension to finalize their initial business combination, now having until August 3, 2024, to complete the merger. This extension mandates an additional $50,000 deposit into their Trust Account for each month of delay, starting with a one-month extension already funded. Concurrently, a Sponsor Loan of up to $300,000 facilitated by MKD BVI has been arranged, secured against shares of the company’s stock, to support this financial maneuver.
For further insights into CETU stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
