Yotta Acquisition Corporation Announces Extension of Combination Period and Additional Contribution to Trust Account to Extend Combination Period
27 April 2023 - 10:30PM
Yotta Acquisition Corporation (NASDAQ: YOTA, the “Company”), a
special purpose acquisition company, announced today that that at
its special meeting of stockholders on April 19, 2023 (the
“Meeting”), the Company’s shareholders voted in favor of the
proposal to amend its amended and restated certificate of
incorporation, giving the Company the right to extend the date by
which the Company has to complete a business combination (the
“Combination Period”) up to twelve (12) times for an additional one
(1) month each time from April 22, 2023, to April 22,
2024. 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 $120,000, in order to extend
the period of time the Company has to complete a business
combination for an additional one (1) month period, from
April 22, 2023 to May 22, 2023. The Company issued a
promissory note to Sponsor in the aggregate principal amount of
$200,000. The promissory note bears no interest and matures upon
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 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
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