Oak Woods Acquisition Corporation Announces Extension of Completion Window to September 28, 2024
28 Junio 2024 - 8:46PM
Oak Woods Acquisition Corporation (the “Company”) announced today
that it has extended the period of time it will have to consummate
its initial business combination by 3 months from the current
deadline of June 28, 2024 until September 28, 2024 (the “completion
window”) because the Company’s Sponsor, Whale Bay International
Company Limited has timely deposited $575,000 in the Company’s
trust account, representing $0.10 per Unit as additional
interest on the proceeds in the trust account. The Company’s
stockholders are not entitled to vote on or redeem their shares in
connection with such extension of the completion window.
About the Company
Oak Woods Acquisition Corporation is a blank
check company organized for the purpose of effecting a merger,
capital stock exchange, asset acquisition, or other similar
business combination with one or more businesses or entities. On
August 11, 2023, Oak Woods Acquisition Corporation, a Cayman
Islands corporation (“Oak Woods”), entered into a Merger Agreement
and Plan of Reorganization (the “Merger Agreement”) with Oak Woods
Merger Sub, Inc., a Cayman Islands corporation and a wholly owned
subsidiary of Oak Woods (“Merger Sub”), Huajin (China) Holdings
Limited, a Cayman Islands corporation (“Huajin”) and Xuehong Li, in
his capacity as the representative of the Huajin shareholde
(“Shareholders’ Representative”), as amended by its agreement to
extend the date by which a Business Combination is required to be
completed to June 28, 2024, dated March 23, 2024, and subsequently
by the First Amendment to the Merger Agreement entered into by Oak
Woods, Huajin, Merger Sub, and the Shareholders’ Representative on
June 26, 2024 extending th time to complete its business
combination to September 28, 2024.
Pursuant to the terms of the Merger Agreement,
and subject to the satisfaction or waiver of certain conditions set
forth therein, Merger Sub will merge with and into Huajin (the
“Merger”), with Huajin surviving the merger in accordance with the
Companies Act (As Revised) of the Cayman Islands as a wholly- owned
subsidiary of Oak Woods (the transactions contemplated by the
Merger Agreement and the related ancillary agreements, the
“Business Combination”).
Prior to the consummation of the Merger, the
holders of a majority of Oak Woods’s Ordinary Shares attending a
shareholder’s meeting (at which there is a quorum) must approve the
transactions contemplated by the Merger Agreement (the “Shareholder
Approval”).
Forward Looking Statements
This press release includes forward-looking
statements that involve risks and uncertainties. Forward looking
statements are statements that are not historical facts. Such
forward- looking statements are subject to risks and uncertainties,
which could cause actual results to differ from the forward-looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company’s expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Contact:
Lixin ZhengChief Executive OfficerOak Woods Acquisition
Corporation(+1) 403-561-7750
Oak Woods Acquisition (NASDAQ:OAKUU)
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