99 Acquisition Group, Inc. (the “Company” or “99 Acquisition”), a
special purpose acquisition company, announced that 99 Acquisition
Sponsor LLC, the Company’s sponsor, deposited an aggregate of
$750,000 into the Company’s trust account for the Company’s public
stockholders, representing $0.10 per public share, which enables
the Company to extend the period of time it has to consummate an
initial business combination by three months from May 22, 2024 to
August 22, 2024 (the “Extension”). The Extension is the first of up
to two three-month extensions permitted under the Company’s
governing documents.
As previously announced, the Company entered into a Merger
Agreement with Nava Health MD, Inc. (“Nava Health”), dated February
12, 2024, pursuant to which the Company will acquire 100% of the
equity securities of Nava Health, with Nava Health becoming a
wholly-owned subsidiary of the Company. The Extension will allow
the Company additional time to complete the proposed business
combination with Nava Health.
About 99 Acquisition
99 Acquisition Group, Inc. (Nasdaq: NNAG) is a blank check
company that was formed for the purpose of entering into a merger,
share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or other similar business
combination with one or more businesses or entities.
About Nava Health
Nava Health is a vertically integrated, tech-enabled healthcare
practice combining integrative, functional, preventive, and
regenerative medicine. Nava Health’s innovative medical practice
uses a data-driven, personalized approach to optimize health and
increase longevity. Nava Health provides each client with an
individualized wellness roadmap tailored to their specific
symptoms, medical needs, and personal goals. All client wellness
roadmaps result from a proprietary diagnostic process, the "Nava
Method," which utilizes data and specially designed software to
create optimal personalized client outcomes. To learn more visit
navacenter.com.
Important Information about the Proposed Business Combination
and Where to Find It
This press release relates to a proposed transaction between 99
Acquisition and Nava Health. This press release does not constitute
an offer to sell or exchange, or the solicitation of an offer to
buy or exchange, any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, sale or
exchange would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. In connection
with the proposed business combination, 99 Acquisition has filed a
registration statement on Form S-4 containing a proxy
statement/prospectus (the "Registration Statement") with the SEC,
and 99 Acquisition and Nava Health intend to file other relevant
materials with the SEC. The Registration Statement includes a proxy
statement/prospectus to be distributed to holders of 99
Acquisition's common stock in connection with 99 Acquisition's
solicitation of proxies for the vote by 99 Acquisition's
stockholders with respect to the proposed transaction and other
matters as described in the Registration Statement, as well as the
prospectus relating to the offer of securities to be issued to Nava
Health's shareholders in connection with the proposed business
combination. After the Registration Statement has been filed and
declared effective, 99 Acquisition will mail a definitive proxy
statement, when available, to its stockholders.
Before making any voting or investment decision, investors and
security holders and other interested parties are urged to read the
Registration Statement, any amendments thereto and any other
documents filed with the SEC carefully and in their entirety when
they become available because they will contain important
information about 99 Acquisition, Nava Health and the proposed
business combination. Copies of these documents may be obtained
free of charge at the SEC's website at www.sec.gov. The
documents filed by 99 Acquisition with the SEC also may be obtained
free of charge upon written request to 99 Acquisition at c/o 99
Acquisition Corp., 14 Noblewood Ct, Gaithersburg, MD 20878.
Participants in the Solicitation
99 Acquisition and its directors and executive officers may be
deemed participants in the solicitation of proxies from 99
Acquisition's securityholders with respect to the proposed
transaction under the rules of the SEC. Securityholders may obtain
more detailed information regarding the names, affiliations, and
interests of certain executive officers and directors of 99
Acquisition in the solicitation by reading 99 Acquisition's
Registration Statement and other relevant materials filed with the
SEC in connection with the proposed transaction when they become
available. Information about 99 Acquisition's directors and
executive officers and their ownership of 99 Acquisition's common
stock and other information regarding the interests of participants
in the proxy solicitation, which, in some cases, may be different
from those of 99 Acquisition's securityholders generally, is set
forth in the Registration Statement. These documents can be
obtained free of charge at the SEC's web site at www.sec.gov.
Nava Health and its directors and executive officers may also be
deemed to be participants in the solicitation of proxies from 99
Acquisition's securityholders in connection with the proposed
transaction. A list of the names of such directors and executive
officers and information regarding their interests in the proposed
transaction is included in the Registration Statement for the
proposed transaction.
Non-Solicitation
This press release is not a proxy statement or solicitation of a
proxy, consent, or authorization with respect to any securities or
in respect of the proposed transaction. This press release shall
also not constitute an offer to sell or the solicitation of an
offer to buy any securities, nor shall there be any sale of
securities in any states or jurisdictions in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended, or an exemption therefrom.
Forward-Looking Statements
Certain statements made in this press release are
"forward-looking statements" within the meaning of the safe harbor
provisions under the United States Private Securities Litigation
Reform Act of 1995, including statements about the parties' ability
to close the proposed transaction, the anticipated benefits of the
proposed transaction, and the financial condition, results of
operations, earnings outlook and prospects of 99 Acquisition and/or
the proposed transaction and may include statements for the period
following the consummation of the proposed transaction. In
addition, any statements that refer to projections, forecasts or
other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking
statements. Forward-looking statements are typically identified by
words such as "plan," "believe," "expect," "anticipate," "intend,"
"outlook," "estimate," "forecast," "project," "continue," "could,"
"may," "might," "possible," "potential," "predict," "should,"
"would" and other similar words and expressions, but the absence of
these words does not mean that a statement is not
forward-looking.
The forward-looking statements are based on the current
expectations of the management of 99 Acquisition and Nava Health,
as applicable, and are inherently subject to uncertainties and
changes in circumstances and their potential effects and speak only
as of the date of such statement. There can be no assurance that
future developments will be those that have been anticipated. These
forward-looking statements involve a number of risks, uncertainties
or other assumptions that may cause actual results or performance
to be materially different from those expressed or implied by these
forward-looking statements, including: risks related to Nava
Health's businesses and strategies; the ability to complete the
proposed transaction due to the failure to obtain approval from the
shareholders of 99 Acquisition and/or Nava Health or satisfy other
closing conditions set forth in the Merger Agreement; the amount of
any redemptions by existing holders of 99 Acquisition's common
stock; the ability to recognize the anticipated benefits of the
proposed transaction; other risks and uncertainties included under
the header "Risk Factors" in the Registration Statement filed by 99
Acquisition and Nava Health, in the final prospectus of 99
Acquisition for its initial public offering dated August 21, 2023;
and in 99 Acquisition's other filings with the SEC. These filings
identify and address other important risks and uncertainties that
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Nava Health and 99 Acquisition assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither Nava Health nor 99 Acquisition gives any
assurance that Nava Health, 99 Acquisition or the combined company
will achieve its expectations.
For more information contact:
99 Acquisition Group, Inc.Hiren Patel, CEOPhone:
703-371-4260Email: hpatel@intelvative.com
99 Acquisition (NASDAQ:NNAG)
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