Nova Vision Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination to November 10, 2023
Nova Vision Acquisition Corp. (NASDAQ:NOVV) has recently made an exciting announcement regarding its plans for a business combination. The special purpose acquisition company revealed that its sponsor, Nova Pulsar Holdings Limited, has deposited an impressive aggregate amount of $69,763.37 into the Company’s trust account. This deposit will extend the period for completing a business combination by an additional one-month period, from October 10, 2023, to November 10, 2023.
To facilitate this extension, Nova Vision Acquisition Corp. issued a promissory note to its sponsor, reflecting the principal amount equal to the deposited funds. The promissory note carries no interest and is convertible into the Company’s units, which consist of one ordinary share, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the Company’s initial business combination. The conversion price for the units is set at $10.00 per unit upon the closing of the business combination.
This extension is a strategic move by Nova Vision Acquisition Corp. to provide ample time for the completion of a business combination. The Company is a blank check company that was formed with the primary objective of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
Nova Vision Acquisition Corp. has its sights set on target companies operating in the fintech, proptech, consumertech, and supply chain management industries, as well as technology companies that serve these sectors. By focusing on these areas, the Company aims to identify and partner with innovative and forward-thinking businesses that have the potential to revolutionize their respective industries.
It is important to note that this press release contains forward-looking statements, which inherently involve risks and uncertainties. While the successful consummation of the Company’s initial public offering is a positive development, there are factors that could cause actual results to differ from these forward-looking statements. Nova Vision Acquisition Corp. acknowledges this and expressly disclaims any obligations or undertakings to release updates or revisions to the forward-looking statements contained in this press release.
Nova Vision Acquisition Corp. is an exciting player in the world of special purpose acquisition companies, and its recent announcement regarding the extension of the business combination period reflects its commitment to finding the right partner. With a focus on industries that are shaping the future, Nova Vision Acquisition Corp. is poised to make a significant impact in the world of technology and beyond.
For more information about Nova Vision Acquisition Corp. and its ongoing activities, please reach out to their Investor Relations team at firstname.lastname@example.org.