Yotta Acquisition Corporation Announces Extension of Combination Period and Additional Contribution to Trust Account to Extend Combination Period
26 Enero 2023 - 4:10PM
Yotta Acquisition Corporation (NASDAQ: YOTA, the “Company”), a
special purpose acquisition company, announced today that 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 $1,150,000 (representing $0.10 per
share of common stock issued at the Company’s initial public
offering), in order to extend the period of time the Company has to
complete a business combination for an additional three (3) months
period, from January 22, 2023 to April 22, 2023. The Company issued
a promissory note to Sponsor in the aggregate principal amount of
$575,000. The promissory note bears no interest and matures upon
the closing of a business combination by the Company. Pursuant to
the terms of the Merger Agreement dated, October 24, 2022 by and
among the Company, Yotta Merger Sub, Inc., a Nevada corporation and
wholly owned subsidiary of the Company and NaturalShrimp
Incorporated, a Nevada corporation (“NaturalShrimp”) paid one-half
of the extension fee while the Company paid the other half. The
purpose of the extension is to provide time for the Company to
complete a business combination.
About Yotta Acquisition
Corporation
Yotta is led by founder Hui Chen (CEO). Yotta is
a blank check company formed for the purpose of effecting a merger,
share exchange, asset acquisition, stock purchase,
recapitalization, reorganization or similar business combination
with one or more businesses.
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.
Contact:Hui ChenChief Executive
OfficerYotta Acquisition Corporationhchen@yottaac.com
Yotta Acquisition (NASDAQ:YOTAW)
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