Fat Projects Acquisition Corp Announces Increase in Per Share Redemption Price for its Proposed Charter Amendment from $0.06 per Share to $0.0625 per Share

Jan 05, 2023

SINGAPORE / ACCESSWIRE / January 5, 2023 / Fat Projects Acquisition Corp (NASDAQ:FATPU, FATP, FATPW) ("FATP"), a special purpose acquisition company formed by Fat Projects SPAC Pte. Ltd., announced today that it has revised the terms of the previously announced proposed amendment (the "Extension Amendment") to its amended and restated articles and memorandum of association (the "Charter") to be considered by its shareholders at a General Meeting of Shareholders to be held on January 12, 2023 (the "Charter Amendment General Meeting") along with a proposed amendment to the Investment Management Trust Agreement dated October 12, 2021 between Continental Stock Transfer & Trust Company, as trustee, and FATP governing the trust account established in connection with FATP's initial public offering (the "Trust Amendment"). As revised, the Extension Amendment would amend the Charter to provide for up to six one-month extensions to the date by which FATP must complete its initial business combination from the current deadline of January 15, 2023 to as late as July 15, 2023, at FATP's option, provided that FATP or its Sponsor (or any of either of their affiliates or designees) deposits into the Trust Account an additional $0.0625 per outstanding Class A Ordinary Share for each month extended. As originally proposed, the Extension Amendment provided for a deposit into the Trust Account of an additional $0.06 per outstanding Class A Ordinary Share for each month extended.

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us ETF Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.