I-AM Capital Acquisition Company Confirms Payment Of Funds To Extend Period To Complete A Business Combination
Benzinga Newsdesk 8 years ago
News
NEW YORK, Aug. 22, 2018 (GLOBE NEWSWIRE) -- I-AM Capital Acquisition Company (NASDAQ:IAM) (“I-AM Capital” or the “Company”), announced today that on August 21, 2018, the Company deposited into the Company’s trust account (the “Trust Account”), an aggregate of $303,610 (including interest earned on the funds in the Trust Account available for withdrawal), representing $0.058 per public share. As a result of such payment, the Company has extended the period of time it has to consummate a business combination by three months to November 21, 2018.
The Company’s sponsor and the Company will have the option, but no obligation, to extend such term an additional two times, each by an additional three months, up to May 21, 2019, by depositing an aggregate of $303,610 into the Trust Account, representing $0.058 per public share, in connection with each such extension.
The Company’s sponsor and the Company will have the option, but no obligation, to extend such term an additional two times, each by an additional three months, up to May 21, 2019, by depositing an aggregate of $303,610 into the Trust Account, representing $0.058 per public share, in connection with each such extension.