Blue World Acquisition Corporation Announces Extension Of The Deadline For An Initial Business Combination To April 2, 2024
Portfolio Pulse from Benzinga Newsdesk
Blue World Acquisition Corporation (BWAQ) has extended the deadline for its initial business combination from March 2, 2024, to April 2, 2024. To facilitate this extension, a $60,000 Extension Fee was deposited into the Company's Trust Account. This fee was funded through an unsecured promissory note issued to Blue World Holdings Limited, the sponsor of BWAQ.
March 01, 2024 | 1:08 pm
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BWAQ has extended its deadline for an initial business combination by one month, with a $60,000 Extension Fee deposited into its Trust Account.
The extension of the deadline for the initial business combination may be viewed neutrally by investors as it indicates the company is still working towards its goals but needs more time. The deposit of the Extension Fee demonstrates financial commitment but does not directly impact the company's current financial health or operations. Therefore, the short-term impact on BWAQ's stock price is likely neutral.
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