Fat Projects Acquisition Corporation announced today its intention to extend the deadline for completing its initial business combination with Avanseus Holdings Pte. Ltd.
The deadline will be extended from June 15, 2023, to July 15, 2023, with a deposit of $24,279.65 into its Trust Account.
This extension marks the third of up to nine 1-month extensions authorized under an amendment to its Amended and Restated Memorandum and Articles of Association.
The extension provides Fat Projects Acquisition Corp with additional time to finalize the Business Combination Agreement.
The agreement, initially signed on August 26, 2022, outlines a series of transactions in which Avanseus shareholders will exchange their Avanseus shares for newly issued Fat Projects Acquisition Corp Class A Ordinary Shares.
This exchange will result in Avanseus becoming a wholly owned subsidiary of Fat Projects Acquisition Corp, which will subsequently change its corporate name to “Avanseus Holdings Corporation” (“New Avanseus”).
The extension aims to grant Fat Projects Acquisition Corp and Avanseus more time to complete the Business Combination.
Shareholders and interested parties are encouraged to review the Registration Statement, proxy statement/prospectus, and other relevant materials filed with the Securities and Exchange Commission (SEC) for detailed information regarding the Business Combination.
For additional information, including obtaining relevant documents, interested parties can visit the SEC’s website at www.sec.gov or Fat Projects Acquisition Corp’s website at https://fatprojectscorp.com/investor-relations/. Written requests can be directed to Fat Projects Acquisition Corp at 27 Bukit Manis Road, Singapore 099892.