Yotta Acquisition Corporation Announces Extension Of Combination Period And Additional Contribution To Trust Account To Extend Combination Period

Author: Benzinga Newsdesk | April 28, 2023 07:19am

Yotta Acquisition Corporation (NASDAQ:YOTA, the "Company"))))), a special purpose acquisition company, announced today that that at its special meeting of stockholders on April 19, 2023 (the "Meeting"), the Company's shareholders voted in favor of the proposal to amend its amended and restated certificate of incorporation, giving the Company the right to extend the date by which the Company has to complete a business combination (the "Combination Period") up to twelve (12) times for an additional one (1) month each time from April 22, 2023, to April 22, 2024. Yotta Investment LLC, the Company's initial public offering sponsor ("Sponsor"), has deposited into the Company's trust account (the "Trust Account") an aggregate of $120,000, in order to extend the period of time the Company has to complete a business combination for an additional one (1) month period, from April 22, 2023 to May 22, 2023. The Company issued a promissory note to Sponsor in the aggregate principal amount of $200,000. The promissory note bears no interest and matures upon 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.

Posted In: YOTA