NEW YORK, Nov. 5, 2020
/PRNewswire/ -- Orisun Acquisition Corp.(NASDAQ: ORSNU, the
"Company"), a special purpose acquisition company, announced today
that Ucommune Group Holdings Limited ("Ucommune") has deposited
into the Company's trust account (the "Trust Account") a principal
amount of $444,002, (representing
approximately $0.10 per share of
common stock), in order to extend the period of time the Company
has to complete a business combination for an additional three
(3) months period, from November 6,
2020 to February 6,
2021. The Company issued an unsecured promissory note in an
amount of $444,002 to Ucommune. The
promissory note bears no interest and is convertible into the
Company's units (with each unit consisting of one share of common
stock, one warrant to purchase one-half of one share of common
stock, and one right to receive one-tenth of one share of common
stock upon the consummation of the Company's initial business
combination) at a price of $10.00 per
unit at the closing of a business combination by the Company. The
purpose of the extension is to provide time for the Company to
complete a business combination.
About Orisun Acquisition Corp.
Orisun Acquisition Corp. is incorporated in the State of Delaware as a blank check company for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. Orisun's efforts to identify a prospective target
business have not been limited to a particular industry or
geographic region.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
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SOURCE Orisun Acquisition Corp.