Northern Revival Acquisition Corp (NRAC), previously known as Noble Rock Acquisition Corp, has amended its charter to extend the deadline for completing an initial business combination. The extension moves the date from August 4, 2024, to November 4, 2024. This decision was approved by shareholders during an extraordinary general meeting held on Thursday.
The company, which is classified under the "Blank Checks" industry and operates within the "05 Real Estate & Construction" sector, filed the necessary documents with the SEC on Tuesday, indicating the approval of the extension proposal and the absence of a need for an adjournment proposal due to sufficient votes.
The extension allows Northern Revival more time to either consummate a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination. If the company fails to complete a business combination by the new deadline, it must cease operations for the purpose of winding up.
At the general meeting, shareholders voted overwhelmingly in favor of the extension, with 7,327,224 votes for, 98,419 against, and no abstentions. The total number of shares voted represented approximately 99.56% of the shares eligible to vote, ensuring a quorum.
In conjunction with the shareholders' vote, 1,451,876 ordinary shares were tendered for redemption. Following this redemption, Northern Revival Acquisition Corp now has 6,310,934 ordinary shares remaining, including one Class B ordinary share.
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