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Altitude Acquisition Corp. (NASDAQ:ALTUU, ALTU, ALTUW))))) ("Altitude"), announced today that its board of directors (the "Board") has extended the date by which Altitude must consummate an initial business combination (the "Deadline Date") for an additional month, from January 11, 2024 to February 11, 2024.
Altitude's Amended and Restated Certificate of Incorporation, as amended (the "Charter"), gives the Board the right to extend the Deadline Date, without further stockholder vote, up to three times for an additional one month each time (each, an "Extension"), from December 11, 2023 to up to March 11, 2024.
As previously announced, on April 23, 2023, Altitude entered into a business combination agreement (the "Business Combination Agreement") with Picard Medical, Inc. ("Picard") and the other parties thereto, which provides for a business combination between Altitude and Picard. The purpose of this monthly Extension is to provide Altitude with additional time to consummate the proposed business combination with Picard.
