GlobeNewswire Inc. · Jul 6, 2023
Nova Vision Acquisition Corp. Announces Extension of Combination Period and Additional Contribution to Trust Account to Extend Combination Period to August 10, 2023
Singapore, July 06, 2023 (GLOBE NEWSWIRE) -- Nova Vision Acquisition Corp. (NASDAQ: NOVV, the “Company”), a special purpose acquisition company, announced today that Nova Pulsar Holdings Limited, the Company’s initial public offering sponsor (“Sponsor”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate of $75,030.26 (representing approximately $0.0416 per ordinary share issued at the Company’s initial public offering that has not been redeemed), in order to extend the period of time the Company has to complete a business combination for an additional one (1) month period, from July 10, 2023 to August 10, 2023. The Company issued a promissory note to Sponsor with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the Company’s units (with each unit consisting 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) at a price of $10.00 per unit at the closing of a business combination by the Company. The purpose of the extension is to provide time for the Company to complete a business combination.
