NEW YORK, Nov. 17, 2020 /PRNewswire/ -- Longevity
Acquisition Corporation (NASDAQ: LOAC) (the "Company" or "LOAC"), a
publicly-traded special purpose acquisition company (SPAC),
announced that in light of the upcoming special shareholder meeting
(the "Special Meeting"), if the shareholders approves the proposal
to extend the date by which the Company must complete its initial
business combination from November 30,
2020 to May 29, 2021 or such
earlier date as determined by the board (the "Extension"), for each
public share that is not redeemed by the Company's shareholders in
connection with the Extension (each, a "Remaining Share"), for each
monthly period, or portion thereof during the Extension, it will
deposit $0.05 per share into the
trust account as additional interest on the proceeds in the trust
account Extension (the " Increased Cash Contribution"). This
Increased Cash Contribution replaces the previously announced cash
contribution of $0.025 per month for
each Remaining Share.
No changes have been made to the
Special Meeting's date, record date and location or the
proposals to be brought before the Special Meeting, which are
presented in the Company's definitive proxy statement on Schedule
14A filed with the U.S. Securities and Exchange Commission on
October 26, 2020.
About LOAC
LOAC is a blank check company, also commonly referred to as a
Special Purpose Acquisition Company, or SPAC, formed for the
purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation, purchasing all or substantially
all of the assets of, entering into contractual arrangements, or
engaging in any other similar business combination with one or more
businesses or entities. LOAC's efforts to identify a target
business have not been limited to a particular industry or
geographic region. LOAC is sponsored by Whale Management
Corporation, a BVI business company with limited liability.
Additional Information about the Transaction and Where to
Find it
The Company, its directors and certain of its executive officers
are participants in the solicitation of proxies from the Company's
shareholders in connection with the matters to be considered at
Company's upcoming Special Meeting. The Company filed with the
U.S. Securities and Exchange Commission (the "SEC") on October 26, 2020 a definitive proxy statement and
form of proxy card in connection with its solicitation of proxies
from Company shareholders for the Annual Meeting. Company
shareholders are strongly encouraged to read the definitive proxy
statement (including any supplements or amendments thereto), the
accompanying form of proxy card and any other relevant documents
that the Company files with the SEC when they become available
because they will contain important information. Detailed
information regarding the identity of participants and their direct
or indirect interests, by security holdings or otherwise, is set
forth in the proxy statement and other materials filed by the
Company with the SEC. Shareholders are able to obtain the proxy
statement, any supplements or amendments to the proxy statement and
other documents filed by the Company with the SEC for no charge at
the SEC's website at http://www.sec.gov. If you have questions
about how to vote or direct a vote in respect of your shares, you
may contact Advantage Proxy at (877) 870-8565 (toll free) or by
email at ksmith@advantageproxy.com.
Forward-Looking Statements
This press release and the exhibits hereto include
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995 and 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. Any actual results may differ from expectations,
estimates and projections presented or implied and, consequently,
you should not rely on these forward-looking statements as
predictions of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, LOAC's expectations with
respect to future performance, anticipated financial impacts of the
proposed business combination, approval of the business combination
transactions by security holders, the satisfaction of the closing
conditions to such transactions and the timing of the completion of
such transactions.
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SOURCE Longevity Acquisition Corporation