Austin, TX, Aug. 27, 2024 (GLOBE NEWSWIRE) — Acri Capital Acquisition Corporation (Nasdaq: ACAC), a special purpose acquisition company, today announced that, their previously announced business combination with Foxx Development Inc., a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients, was approved at a special meeting of stockholders of the Company on August 27, 2024. Approximately 96.9% of the votes cast at the Special Meeting were in favor of the Business Combination. The Company plans to file the results of the Special Meeting, as tabulated by an independent inspector of elections, on a Current Report on Form 8-K with the Securities and Exchange Commission later today.
Subject to the satisfaction of closing conditions, the transaction is expected to close in the following month. The combined company will be renamed as “Foxx Development Holdings Inc.”, and its shares of common stock and warrants are expected to begin trading on the Nasdaq under the symbols “FOXX” and “FOXXW”, respectively, once the transaction is closed.
About Acri Capital Acquisition Corporation
Acri Capital Acquisition Corporation 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, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses with one or more businesses or entities.
About Foxx Development Inc.
Foxx, established in 2017 as a Texas incorporated company, is a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients. With robust research and development capabilities and a strategic commitment to cultivating long-term partnerships with mobile network operators, distributors and suppliers around the world, FOXX currently sells a diverse range of products including mobile phones, tablets and other consumer electronics devices throughout the United States, and is in the process of developing and distributing end-to-end communication terminals and IoT solutions.
