HONG KONG, Dec. 4, 2020
/PRNewswire/ -- Tottenham Acquisition I Limited (NASDAQ: TOTAU, the
"Company"), a special purpose acquisition company, announced today
that Norwich Investment Limited, the Company's initial public
offering sponsor ("Norwich"), has deposited into the Company's
trust account (the "Trust Account") an aggregate of $115,028.27 (representing approximately
$0.055 per ordinary share), in order
to extend the period of time the Company has to complete a business
combination for one additional month, from December 6, 2020 to January 6, 2021. The Company issued a promissory
note to Norwich with a principal amount equal to the amount
deposited. The promissory note bears no interest and is convertible
into the Company's units (with each unit consisting of one ordinary
share, one warrant to purchase one-half of one ordinary share, and
one right to receive one-tenth of one ordinary share upon the
consummation of the Company's initial business combination) at a
price of $10.00 per unit at 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.
About Tottenham Acquisition I Limited
Tottenham Acquisition I Limited is a blank check company formed
for the purpose of acquiring, engaging in a share exchange, share
reconstruction and amalgamation with, purchasing all or
substantially all of the assets of, entering into contractual
arrangements with, or engaging in any other similar business
combination with one or more businesses or entities. The Company's
efforts to identify a prospective target business will not be
limited to a particular industry or geographic region, although the
Company intends to focus on operating businesses in the TMT
(Technology, Media, Telecom), education, e-commerce, health-care
and consumer goods industries.
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, including the successful consummation of the Company's
initial public offering, 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.
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SOURCE Tottenham Acquisition I Limited