CORRECTING and REPLACING Battery Future Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Deadline to Consummate Business Combination
June 14 2023 - 5:32PM
Business Wire
First paragraph, first sentence of release should read:
representing $0.024 per public share (instead of representing $0.24
per public share).
The updated release reads:
Battery Future Acquisition Corp. Announces
Additional Contribution to Trust Account to Extend Deadline to
Consummate Business Combination
Battery Future Acquisition Corp. (NYSE: BFAC.U, BFAC, BFAC.WS)
(“BFAC” or the “Company”), a special purpose acquisition company,
announced today that, on June 14, 2023, its sponsor, Battery Future
Sponsor LLC, timely deposited an aggregate of $500,000 (the
“Extension Payment”), representing $0.024 per public share, into
BFAC’s trust account in order to extend the date by which BFAC has
to consummate a business combination from June 17, 2023 to August
17, 2023 (the “Extension”). The Extension provides BFAC with
additional time to complete a business combination.
The Sponsor loaned the Extension Payment to BFAC in order to
support the Extension and caused the Extension Payment to be
deposited in BFAC’s trust account for its public shareholders. In
connection with the Extension Payment, BFAC issued to Sponsor an
unsecured promissory note (the “Note”) in the aggregate principal
amount of up to $2,000,000 with interest at a rate of ten percent
(10.0%) per annum. The Note will be due and payable (subject to the
waiver against trust provisions) on the earlier of (i) the date on
which the business combination is consummated and (ii) the date of
the Company’s liquidation.
About Battery Future Acquisition Corp.
Battery Future Acquisition Corp. is a blank check company
incorporated on July 29, 2021 as a Cayman Islands exempted company
and formed for the purpose of effecting a merger, share exchange,
asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses.
Cautionary Statement Regarding 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 are subject to risks and uncertainties, which could
cause actual results to differ from the forward-looking statements.
These forward-looking statements and factors that may cause such
differences include, without limitation, BFAC’s inability to
complete an initial business combination within the required time
period, and other risks and uncertainties indicated from time to
time in filings with the U.S. Securities and Exchange Commission
(the “SEC”), including BFAC’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2022, filed with the SEC on March
30, 2023, under the heading “Risk Factors,” and other documents
BFAC has filed, or to be filed, with the SEC. Readers are cautioned
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. BFAC 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 BFAC’s expectations with respect thereto or
any change in events, conditions or circumstances on which any
statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20230614939122/en/
Battery Future Acquisition Corp. (347) 417-4062
Media: Gasthalter & Co. Jonathan Gasthalter/Kevin
FitzGerald (212) 257-4170
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