Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
June 12 2023 - 8:30AM
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 June 14, 2023 for an additional month, to
July 14, 2023.
As previously disclosed, at a special meeting of
its stockholders held on March 8, 2023, 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 12
times for an additional one month each time (the “Extension”), from
May 14, 2023 to up to June 14, 2024. On March 9, 2023, Bannix filed
the Amended Charter with the Secretary of State of the State of
Delaware.
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) $75,000 and (y) $0.07 for each share
that is not redeemed in connection with the special
meeting. On June 12, 2023, the Board, at the request of
the Sponsor, decided to implement a fourth Extension and to extend
the Deadline Date for an additional month to July 14, 2023.
About Bannix Acquisition
Corp.
Bannix Acquisition Corp. is a blank check
company, also commonly referred to as a Special Purpose Acquisition
Company, or SPAC, formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or
entities.
Forward-Looking StatementsThis
press release and oral statements made from time to time by
representatives of the Company may include “forward-looking
statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other
than statements of historical fact included in this press release
are forward-looking statements. When used in this press release,
words such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to the Company or its management team,
identify forward-looking statements. Such forward-looking
statements are based on the beliefs of the Company’s management, as
well as assumptions made by, and information currently available
to, the Company’s management. Actual results could differ
materially from those contemplated by the forward-looking
statements as a result of certain factors detailed in the Company’s
filings with the SEC. All subsequent written or oral
forward-looking statements attributable to the Company or persons
acting on its behalf are qualified in their entirety by this
paragraph. Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company’s registration statement and prospectus for the Company’s
initial public offering filed with the SEC. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by
law.
Contact:Bannix Acquisition
CorpDouglas Davis, CEO(323)
682-8949doug.davis@bannixacquisition.com
Bannix Acquisition (NASDAQ:BNIX)
Historical Stock Chart
From Sep 2024 to Oct 2024
Bannix Acquisition (NASDAQ:BNIX)
Historical Stock Chart
From Oct 2023 to Oct 2024