Altitude Acquisition Corp. Extends Deadline for Business Combination with Picard Medical

Altitude Acquisition Corp. has announced that its board of directors has approved an extension of the deadline for its proposed business combination with Picard Medical, Inc. The deadline has been extended by one month, from October 11, 2023, to November 11, 2023. This extension will provide Altitude with additional time to finalize the business combination.

Altitude Acquisition Corp. is a Delaware-based blank check company that aims to facilitate mergers, acquisitions, and other business combinations with one or more entities. The company’s Amended and Restated Certificate of Incorporation allows for multiple extensions of the deadline, with the current extension being the seventh.

Altitude entered into a business combination agreement with Picard Medical earlier this year. The extension of the deadline will allow both companies to continue working towards completing the proposed business combination. Altitude has filed a preliminary proxy statement with the Securities and Exchange Commission (SEC) and intends to file a definitive proxy statement in due course.

Altitude urges its investors, shareholders, and interested parties to review the proxy statements and other relevant documents filed with the SEC for important information about the business combination. Shareholders will receive the definitive proxy statement once it is available and can also obtain it from Altitude directly or the SEC’s website.

The proposed business combination between Altitude and Picard is subject to various conditions and regulatory approvals. Both companies are confident in the potential benefits of the merger and are committed to completing the transaction. Altitude and Picard’s directors and executive officers may be considered participants in the solicitation of proxies for the business combination.

Forward-looking statements in this press release highlight the expectations and projections of Altitude and Picard regarding the business combination. These statements are based on assumptions and current expectations, but actual events and circumstances may differ. Various risks and uncertainties could impact the completion of the business combination, including changes in market conditions and the ability to obtain necessary approvals.

Altitude and Picard emphasize that this press release does not constitute an offer or solicitation of securities. Any offer of securities will be made through a prospectus meeting the requirements of the Securities Act. Both companies reserve the right to update the forward-looking statements in this press release as circumstances change, but they do not have an obligation to do so.

Altitude Acquisition Corp. remains committed to its goal of completing the business combination with Picard Medical. The extension of the deadline provides additional time for the necessary steps to be taken to finalize the transaction. Both companies are focused on creating a successful partnership that will benefit their shareholders and stakeholders in the healthcare industry.