WinVest Acquisition Corp. Announces Extension of Termination Date and Additional Contribution to Trust Account to Extend Termination Date
06 Dezember 2022 - 10:55PM
WinVest Acquisition Corp. (NASDAQ: WINV, the “Company”), a special
purpose acquisition company, announced today that at a special
meeting of its stockholders held on November 30, 2022, the
Company’s stockholders voted in favor of a proposal to amend its
amended and restated certificate of incorporation to extend the
date (the “Termination Date”) by which the Company must consummate
an initial business combination from December 17, 2022 to January
17, 2023 (the “Charter Extension Date”), and to allow the Company,
without another stockholder vote, to elect to extend the
Termination Date on a monthly basis for up to five times by an
additional one month each time after the Charter Extension Date, by
resolution of the Company’s board of directors, if requested by
WinVest SPAC LLC, the Company’s sponsor (the “Sponsor”), subject to
the Sponsor’s deposit of $125,000 per monthly extension into the
Company’s trust account (the “Trust Account”). In connection
therewith, on December 5, 2022, the Company issued an unsecured
promissory note to the Sponsor with a principal amount equal to
$750,000. The promissory note bears no interest and is convertible
at the option of the Sponsor upon the consummation of an initial
business combination into private warrants to purchase shares of
the Company’s common stock at a price of $0.50 per private warrant.
Such private warrants will be identical to the private placement
warrants issued to the Sponsor at the time of the Company’s initial
public offering.
On December 5, 2022, the Sponsor notified the
Company of its intent to extend the Termination Date and deposited
into the Trust Account an aggregate of $125,000 (representing
approximately $0.066 per share of common stock issued in the
Company’s initial public offering that has not been redeemed), in
order to extend the period of time the Company has to complete an
initial business combination for an additional one (1) month
period, from December 17, 2022 to January 17, 2023. The purpose of
the extension is to provide time for the Company to complete an
initial business combination.
About WinVest Acquisition Corp.
WinVest Acquisition Corp. is a blank check
company formed for the purpose of effecting a merger, share
exchange, asset acquisition, stock purchase, 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 statements about the
successful consummation of the Company’s initial business
combination, are subject to risks and uncertainties, which could
cause actual results to differ from those contemplated by the
forward looking statements. Forward-looking statements are subject
to numerous conditions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and prospectus for the
Company’s initial public offering and other reports filed with the
Securities and Exchange Commission. 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, except as required by law.
Contact:
WinVest Acquisition Corp.Manish Jhunjhunwala(617)
658-3094
WinVest Acquisition (NASDAQ:WINV)
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