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Acri Capital Acquisition Corporation and Foxx Development Inc. Announce Business Combination Approval by Acri Capital Acquisition Corporation Stockholders
Austin, TX, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Acri Capital Acquisition Corporation (the "Company") (NASDAQ:ACAC), a special purpose acquisition company, today announced that, their previously announced business combination (the "Business Combination") with Foxx Development Inc. ("Foxx"), a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients, was approved at a special meeting of stockholders (the "Special Meeting") of the Company on August 27, 2024. Approximately 96.9% of the votes cast at the Special Meeting were in favor of the Business Combination.
The Company plans to file the results of the Special Meeting, as tabulated by an independent inspector of elections, on a Current Report on Form 8-K with the Securities and Exchange Commission (the "SEC") later today.
Subject to the satisfaction of closing conditions, the transaction is expected to close in the following month. The combined company will be renamed as "Foxx Development Holdings Inc.", and its shares of common stock and warrants are expected to begin trading on the Nasdaq under the symbols "FOXX" and "FOXXW", respectively, once the transaction is closed.
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