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NEWS
Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
WILMINGTON, Del., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. ("Bannix") announced today that its board of directors (the "Board") has decided to extend the date by which Bannix must consummate an initial business combination (the "Deadline Date") from September 14, 2024 for an additional month, to October 14, 2024.
As previously disclosed, at an annual meeting of its stockholders held on September 6, 2024, Bannix' stockholders voted in favor of a proposal to amend Bannix's Amended and Restated Certificate of Incorporation (as amended, the "Amended Charter") to provide Bannix with the right to extend the Deadline Date up to six times for an additional one month each time (the "Extension") until March 14, 2025.
Also as previously announced, if an Extension is implemented, the sponsor of Bannix, Instant Fame LLC (the "Sponsor"), or its designees will deposit into the trust account, as a loan, the lesser of (x) $25,000 and (y) $0.05 for each share that is not redeemed in connection with the special meeting.
On September 13, 2024, the Board, at the request of the Sponsor, decided to implement the nineteenth Extension and to extend the Deadline Date for an additional month to October 14, 2024.
About Bannix Acquisition Corp.
WILMINGTON, Del., Sept. 16, 2024 (GLOBE NEWSWIRE) -- Bannix Acquisition Corp. ("Bannix") announced today that its board of directors (the "Board") has decided to extend the date by which Bannix must consummate an initial business combination (the "Deadline Date") from September 14, 2024 for an additional month, to October 14, 2024.
As previously disclosed, at an annual meeting of its stockholders held on September 6, 2024, Bannix' stockholders voted in favor of a proposal to amend Bannix's Amended and Restated Certificate of Incorporation (as amended, the "Amended Charter") to provide Bannix with the right to extend the Deadline Date up to six times for an additional one month each time (the "Extension") until March 14, 2025.
Also as previously announced, if an Extension is implemented, the sponsor of Bannix, Instant Fame LLC (the "Sponsor"), or its designees will deposit into the trust account, as a loan, the lesser of (x) $25,000 and (y) $0.05 for each share that is not redeemed in connection with the special meeting.
On September 13, 2024, the Board, at the request of the Sponsor, decided to implement the nineteenth Extension and to extend the Deadline Date for an additional month to October 14, 2024.
About Bannix Acquisition Corp.
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