Everest Consolidator Acquisition Corporation Announces Intention of Sponsor to Deposit Funds to Extend Period to Consummate Initial Business Combination
May 24 2023 - 4:01PM
Business Wire
Everest Consolidator Acquisition Corporation (the “Company”), a
special purpose acquisition company, today announced that Everest
Consolidator Sponsor, LLC (the “Sponsor”) has notified the Company
of its intention to deposit an aggregate of $1,725,000 into the
Company’s trust account, representing $0.10 per public share, on or
prior to May 28, 2023 (the “Deposit”). If the Sponsor makes such
Deposit, the Sponsor will receive 1,150,000 private placement
warrants, at a rate of $1.50 per private placement warrant, on the
same terms as the private placement warrants issued in connection
with the closing of the Company’s initial public offering. The
Deposit is required to extend the period of time the Company has to
consummate its initial business combination by a period of three
months from May 28, 2023, the current deadline, to August 28, 2023
(the “Extension”). The Extension is permitted under the Company’s
governing documents.
About Everest Consolidator Acquisition Corporation
The Company is a blank check company sponsored by an affiliate
of Belay Associates, LLC and formed for the purpose of entering
into a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination with one
or more businesses or entities.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this press
release are forward-looking statements. Certain of these
forward-looking statements can be identified by the use of words
such as “believes,” “expects,” “intends,” “plans,” “estimates,”
“assumes,” “may,” “should,” “will,” “seeks,” or other similar
expressions. Such statements include statements regarding the
implementation of the Extension, the Deposit into the trust
account, and the consummation of an initial business combination.
These statements are based on current expectations as of the date
of this press release and are neither promises nor guarantees, but
involve a number of risks and uncertainties that may cause actual
results to differ significantly, including those factors set forth
under the heading “Risk Factors” of the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2021 and the
Company’s other filings with the SEC, available on the SEC’s
website, www.sec.gov. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230524005882/en/
Investor: Katherine Paulson kpaulson@belayinvest.com
949-610-0835
Chris Sullivan chris@craftandcapital.com 212-473-4442
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