WinVest Acquisition Corp. Announces Extension of Termination Date and Additional Contribution to Trust Account to Extend Termination Date
In connection therewith, on December 13, 2023, the Company issued an unsecured non-interest-bearing promissory note to the Sponsor with a principal amount equal to $330,000.
- In connection therewith, on December 13, 2023, the Company issued an unsecured non-interest-bearing promissory note to the Sponsor with a principal amount equal to $330,000.
- At the special meeting, the Company’s stockholders also voted in favor of a proposal to effect a corresponding amendment to the Investment Management Trust Agreement by and between the Company and Continental Stock Transfer & Trust Co. (the “Trustee”) to extend the date on which the Trustee must liquidate the Trust Account from December 17, 2023 to January 17, 2024, and to allow the Company, without another stockholder vote, to elect to further extend the liquidation date on a monthly basis for up to five times from January 17, 2024 to June 17, 2024.
- Following the Special Meeting, the Sponsor notified the Company of its request to extend the Termination Date, and on December 13, 2023, the Sponsor deposited into the Trust Account an aggregate of $55,000 (representing approximately $0.048 per share of common stock issued in the Company’s initial public offering that has not been redeemed), in order to extend the period of time the Company has to complete an initial business combination for an additional one (1) month period, from December 17, 2023 to January 17, 2024.
- The purpose of the extension is to provide time for the Company to complete an initial business combination.