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Aesther Healthcare Acquisition Corp. Announces Intention To Extend Period To Consummate Business Combination

Benzinga Real-time News ·  Dec 13, 2022 08:21

New York, NY and Providence, RI, Dec. 13, 2022 (GLOBE NEWSWIRE) -- As previously announced, on August 31, 2022, Aesther Healthcare Acquisition Corp. ("Aesther") (NASDAQ:AEHA) entered into definitive merger agreement with Ocean Biomedical, Inc. Aesther announced today that its Board of Directors has approved an extension of the period of time available to Aesther to consummate a business combination by three months from December 16, 2022 to March 16, 2022 (the "Second Extension"), as permitted under Aesther's governing documents. In connection with the Second Extension, Aesther's sponsor, Aesther Healthcare Sponsor, LLC, has agreed to deposit an aggregate of $1,050,000 into Aesther's Trust account for its public stockholders, representing $0.10 per public share, by December 16, 2022, which will be in the form of a loan. Aesther's governing documents permit a total of two three-month extensions, of which this is the second.

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