WILMINGTON, DE — Aimfinity Investment Corp. I (Nasdaq: AIMAU) has extended the deadline to complete its initial business combination from May 28, 2024, to June 28, 2024. The extension comes after I-Fa Chang, the sole member and manager of the company’s sponsor, deposited $60,000 into its trust account.
Aimfinity, a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, is using this extension to secure a suitable business combination. Under its third amended and restated memorandum and articles of association, effective April 23, 2024, the company can extend the deadline monthly until January 28, 2025. This latest move marks the second of up to nine possible extensions.
The Monthly Extension Payment mechanism allows Aimfinity to buy more time to finalize a business combination, which is crucial for SPACs that must merge with or acquire a company within a set timeframe. Failure to do so would require returning the funds held in trust to investors.
This extension indicates Aimfinity’s ongoing efforts to identify a viable target for its business combination. The $60,000 deposit serves as a strategic move to ensure the SPAC meets its objectives while adhering to regulatory requirements.
As Aimfinity continues its search, the financial market will watch closely, anticipating the potential business combination that could shape the company’s future.
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