Target Global Acquisition I Corp. Announces Extension of Deadline to Complete Initial Business Combination
Target Global Acquisition I Corp. (NASDAQ:TGAA) has announced an extension to the date by which it must complete its initial business combination. The company’s board of directors, in response to a request from Target Global Sponsor Ltd, has decided to extend the termination date from October 13, 2023, to November 13, 2023. This extension provides the company with an additional month to finalize its business combination.
This decision marks the second of six potential one-month extensions available to Target Global Acquisition I Corp. under its Amended and Restated Memorandum and Articles of Association. The company remains committed to finding the right merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
To support the extension, Target Global Sponsor Ltd will deposit $90,000 into the company’s trust account by October 11, 2023. This deposit will be secured by a non-interest bearing, unsecured convertible promissory note to the Sponsor, which will be repaid upon the successful consummation of an initial business combination.
Target Global Acquisition I Corp. is a blank check company with a clear purpose: to identify and execute a strategic business combination that will bring value to its shareholders. The company’s dedication to finding the right opportunity is evident in its decision to extend the termination date, allowing for more time to secure a mutually beneficial partnership.
While forward-looking statements accompany this announcement, it is important to note that they involve risks and uncertainties. Target Global Acquisition I Corp. acknowledges that these statements are not guarantees of future performance and that numerous factors beyond its control could impact actual results. The company remains committed to transparency and will continue to update stakeholders on any significant developments.
For more information about Target Global Acquisition I Corp. and its ongoing search for a business combination, please visit their official website. Investors and media inquiries can be directed to the company’s contact page.
Target Global Acquisition I Corp. is poised for success as it navigates the extension period and continues its pursuit of a strategic business combination. With a dedicated team and a clear vision, the company remains confident in its ability to deliver value to its shareholders and make a positive impact in the market.