HONG
KONG, Feb.
16, 2021 /PRNewswire/ -- AGBA Acquisition Limited
(NASDAQ: AGBA, the "Company"), a special purpose acquisition
company, announced today that AGBA Holding Limited, the Company's
initial public offering sponsor ("Sponsor"), has deposited into the
Company's trust account (the "Trust Account") an aggregate of
$594,466.50 (representing
approximately $0.15 per share of
common stock), in order to extend the period of time the Company
has to complete a business combination for an additional three (3)
months period, from February 16, 2021
to May 16, 2021. The Company issued a
promissory note to Sponsor with a principal amount equal to the
amount deposited. The promissory note bears no interest and is
convertible into the Company's units (with each unit consisting of
one ordinary share, one warrant to purchase one-half of one
ordinary share, and one right to receive one-tenth of one ordinary
share upon the consummation of the Company's initial business
combination) at a price of $10.00 per
unit at the closing of a business combination by the Company. The
purpose of the extension is to provide time for the Company to
complete a business combination.
About AGBA Acquisition Limited
AGBA Acquisition Limited is a British
Virgin Islands company incorporated as a blank check company
for the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business will not be limited to a particular industry or geographic
region, although the Company intends to focus on operating
businesses in the healthcare, education, entertainment and
financial services sectors that have their principal operations in
China.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
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SOURCE AGBA Acquisition Limited