- WinVest Acquisition Corp. (OTC: WINV) extends its business combination deadline to July 17, 2025.
- Sponsor WinVest SPAC LLC commits $30,000 for each monthly extension.
- Extensions aim to provide additional time for completing an initial business combination.
WinVest Acquisition Corp. (OTC: WINV), a special purpose acquisition company, announced it has secured stockholder approval to extend its business combination deadline from June 17, 2025, to July 17, 2025. The extension includes an option for two additional monthly extensions, allowing the deadline to potentially extend to September 17, 2025. The primary aim of these extensions is to provide additional time for the completion of an initial business combination.
The sponsor, WinVest SPAC LLC, is required to contribute $30,000 per monthly extension to the trust account. The initial contribution has already been made, amounting to $30,000, equivalent to approximately $0.116 per share. Additionally, WinVest issued an unsecured promissory note of $90,000 to the sponsor.
Stockholders also approved amendments to the Investment Management Trust Agreement with Continental Stock Transfer & Trust Co. to accommodate these changes. These amendments allow for the monthly extensions without necessitating additional shareholder votes, highlighting increased flexibility for the company's future business endeavors.
