Bannix Acquisition Corp. Announces Monthly Extension to Complete its Initial Business Combination
July 14 2023 - 8:00AM
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 July 14, 2023 for an additional month, to
August 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”) until
March 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 July 12, 2023, the Board, at the
request of the Sponsor, decided to implement a fifth Extension and
to extend the Deadline Date for an additional month to August 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 Statements
This 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
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