NEW
YORK, June 30, 2022 /PRNewswire/ -- Model
Performance Acquisition Corp. (NASDAQ: MPAC, the "Company"), a
special purpose acquisition company, announced today that it has
deposited into the Company's trust account (the "Trust Account") an
aggregate of $575,000 (representing
$0.10 per Class A ordinary share), in
order to extend the period of time the Company has to complete a
business combination (the "Combination Period") for an additional
three (3) months period, from July 12,
2022 to October 12, 2022. As
previously disclosed, pursuant to the First Amendment to the Merger
Agreement dated January 6, 2022 by
and among the Company, MultiMetaVerse Inc. ("MMV") and other
parties named therein, MMV has agreed to loan the Company an
aggregate principal amount of $2.75
million (the "Loan") to fund any and all amounts required to
extend the Combination Period for up to two (2) times for an
additional three (3) months period each time. As of today, the
Company has received an aggregate $2.46
million of the Loan amount. The Loan bears no interest and
is repayable only at the closing of a business combination by the
Company. On June 29, 2022, the
Company used $575,000 of the Loan
amount received to extend the Combination Period to October 12, 2022.
About Model Performance Acquisition Corp.
Model Performance Acquisition Corp. is a British Virgin Islands company incorporated as
a blank check company for the purpose of entering into a merger,
share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination
with one or more businesses or entities.
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.
View original
content:https://www.prnewswire.com/news-releases/model-performance-acquisition-corp-announces-contribution-to-trust-account-to-extend-period-to-consummate-business-combination-301578644.html
SOURCE Model Performance Acquisition Corp.