WILLMINGTON, Del., May 17, 2024 (GLOBE NEWSWIRE) — Bannix Acquisition Corp. announced today that its board of directors has decided to extend the date by which Bannix must consummate an initial business combination from May 14, 2024 for an additional month, to June 14, 2024.
As previously disclosed, at an annual meeting of its stockholders held on March 8, 2024, 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 six times for an additional one month each time (the “Extension”) until September 14, 2024.
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) $25,000 and (y) $0.05 for each share that is not redeemed in connection with the annual meeting.
On May 15, 2024, the Board, at the request of the Sponsor, decided to implement the fifteen Extension and to extend the Deadline Date for an additional month to June 14, 2024.
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.
