Welsbach Technology Extends Business Combination Deadline To And Including March 30
(RTTNews) - Welsbach Technology Metals Acquisition Corp. (WTMAU), a blank check company, announced Tuesday that it has approved an extension of the time period to consummate a Business Combination, in accordance with Article G of the Company's amended and restated certificate of incorporation, to and including March 30, 2023.
In connection therewith, the Company has also approved the issuance and sale of, to Welsbach Acquisition Holdings LLC a non-interest bearing, unsecured promissory note equal to $772,768.60 that will not be repaid in the event that the Company is unable to close a business combination unless there are funds available outside the trust account to do so.
Such note would either be paid upon consummation of the initial business combination out of the proceeds of the Trust Account released to the Company or, at the Sponsor's discretion, converted, in full or in part, upon consummation of our business combination into additional private units at a price of $10.00 per unit.
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