Fat Projects Acquisition Corp. Confirms Funding to Extend Period to Consummate Initial Business Combination

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Jan 18, 2023

SINGAPORE / ACCESSWIRE / January 18, 2023 / Fat Projects Acquisition Corp (NASDAQ:FATPU, FATP, FATPW) ("FATP"), a special purpose acquisition company formed by Fat Projects SPAC Pte. Ltd., announced today the deposit of an aggregate of $312,899.94 (representing $0.0575 per public share) into the Company's trust account, which came from cash on hand of the Company and from proceeds of loans from shareholders of the Company's Sponsor and other designees of the Company who received non-interest bearing, unsecured promissory notes in consideration for the loans and which enables the Company to extend the period of time it has to consummate its initial business combination by one month from January 15, 2023 to February 15, 2023 (the "Extension"). The Extension is the first of up to six one-month extensions permitted under the Company's governing documents.