Blue World Acquisition Corporation Announces Extension Of The Deadline For An Initial Business Combination To March 2, 2024
Portfolio Pulse from Benzinga Newsdesk
Blue World Acquisition Corporation (BWAQ) has extended the deadline for its initial business combination to March 2, 2024, by depositing an Extension Fee of $60,000 into its Trust Account. This fee was paid by Fuji Solar Co., Ltd, an indirect major shareholder of Vietnam Sunergy Cell Company Limited (TOYO Solar). The extension facilitates the amendment of terms for a proposed business combination, evidenced by an unsecured promissory note issued to Fuji Solar.
February 06, 2024 | 9:01 pm
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Blue World Acquisition Corporation has extended its deadline for an initial business combination to March 2, 2024, by depositing a $60,000 Extension Fee, paid by Fuji Solar.
The extension of the deadline for the initial business combination is a positive development for BWAQ, indicating progress towards finalizing a merger. The involvement of Fuji Solar, a major shareholder of a related company, suggests strong backing and financial support for the deal. This could lead to increased investor confidence and potentially a positive impact on BWAQ's stock price in the short term.
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