Arisz Acquisition Announces Extension Of Deadline To Complete Business Combination; Deposited $120K In Trust Account To Extend Business Combination From December 22, 2023 To January 22, 2024
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Arisz Acquisition Corp. (NASDAQ: ARIZ), a special purpose acquisition company (SPAC), has extended the deadline to complete a business combination by one month, from December 22, 2023, to January 22, 2024. The extension was facilitated by a $120,000 deposit into the company's trust account by Arisz Investments LLC, the SPAC's sponsor. This is the eighth extension out of a possible nine as allowed by the company's amended certificate of incorporation dated May 12, 2023.
December 20, 2023 | 7:10 am
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Arisz Acquisition Corp. has extended its deadline to complete a business combination by depositing $120,000 into its trust account, moving the date from December 22, 2023, to January 22, 2024.
The extension provides ARIZ with more time to find a suitable business combination, which is a neutral event as it neither confirms a deal nor indicates failure to find one. The deposit shows commitment but does not directly affect the company's valuation or operations. The impact on the stock price is likely to be neutral in the short term, as investors were likely expecting this move given the provisions for extensions in the company's charter.
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