Ackrell SPAC Partners I Co. Confirms Funding to Extend Period to Consummate Initial Business Combination
21 Mars 2022 - 9:01PM
Ackrell SPAC Partners I Co. (NASDAQ: ACKIU) (“Ackrell” or the
“Company”), announced today that an aggregate of $1,380,000 (the
“Extension Payment”) has been deposited into the Company’s trust
account for its public stockholders, representing $0.10 per public
unit, which enables the Company to further extend the period of
time it has to consummate its initial business combination by three
months from March 23, 2022 to June 23, 2022 (the “Extension”). The
Extension is the second of up to two three-month extensions
permitted under the Company’s governing documents.
The Extension was funded by the proceeds from a
promissory note issued by the Company to North Atlantic Imports,
LLC, a Utah limited liability company d/b/a Blackstone Products,
which entered into a business combination agreement with the
Company, among others, on December 22, 2021.
About Ackrell SPAC Partners I
Co.
Ackrell is a blank check company formed for the
purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an acquisition in any business industry or sector, it
intends to concentrate its efforts on identifying businesses in the
branded fast-moving consumer goods industry. The Company is led by
Chairman Michael Ackrell, Vice Chairman Shannon Soqui, Chief
Executive Officer Jason M. Roth, Chief Operating Officer &
President Stephen N. Cannon, and Chief Financial Officer Long
Long.
Cautionary Note Regarding
Forward-Looking Statements
This press release may include, and oral
statements made from time to time by representatives of the Company
may include, “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Statements
regarding possible business combinations and the financing thereof,
and related matters, as well as all other statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the Securities and Exchange
Commission (“SEC”). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
prospectus for the Company’s initial public offering and other
reports filed with the SEC. The Company undertakes no obligation to
update these statements for revisions or changes after the date of
this release, except as required by law.
Investor Contact:Ackrell SPAC
Partners I Co.(650) 560-4753Info@ackrellspac.com
Ackrell SPAC Partners I (NASDAQ:ACKIU)
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