Northern Revival Acquisition Corp. (formerly Noble Rock Acquisition Corp.) has amended its charter to extend the deadline for completing its initial business combination from November 4, 2024, to May 4, 2025. This decision was approved by shareholders at an extraordinary general meeting held on Monday (NASDAQ:MNDY).
The blank check company, operating under the trading symbols NRACU, NRAC, and NRACW, announced that the extension allows additional time either to consummate a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. If the company does not complete a business combination by the new deadline, it will cease operations except for the purpose of winding up.
During the meeting, shareholders also had the option to vote on an adjournment proposal, which would allow for the general meeting to be postponed if necessary to solicit additional proxy votes. However, this proposal was not presented as there were enough votes to approve the extension.
As a result of the shareholders' decision, 220,377 ordinary shares were tendered for redemption. Following these redemptions, the company has 53,057 ordinary shares remaining, including 53,056 Class A ordinary shares and one Class B ordinary share.
The company, which is focused on the real estate and construction sector, had its initial public offering on February 4, 2021. The extension amendment to the Memorandum and Articles of Association was filed with the Cayman Islands Registrar of Companies and took effect on Monday.
Northern Revival Acquisition Corporation, based in Wilmington, DE, is listed as a company in the blank checks industry and operates under the organization name "05 Real Estate & Construction."
In other recent news, Northern Revival Acquisition Corp has adjusted its timeline for an initial business combination. The company's charter has been amended to extend the deadline from August 4, 2024, to November 4, 2024. This extension was approved by shareholders during a recent extraordinary general meeting. Northern Revival Acquisition now has additional time to finalize a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination.
Should the company fail to complete a business combination by the new deadline, it will be required to cease operations for the purpose of winding up. In related news, 1,451,876 ordinary shares were tendered for redemption, leaving Northern Revival Acquisition Corp with 6,310,934 ordinary shares, including one Class B ordinary share.
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