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GlobeNewsWire
1 year ago
TenX Keane Acquisition Announces Contribution to Trust Account in Connection with Extension Amendment Proposal
New York, NY, Jan. 10, 2024 (GLOBE NEWSWIRE) -- TenX Keane Acquisition (Nasdaq: TENKU, TENK, TENKR) (the “Company”), announced today that if the proposal to amend the Company's Amended and Restated Memorandum and Articles of Association, which provides that the Company may elect to extend the date by which the Company has to consummate a business combination for a total of eight (8) times, as follow: (i) one (1) time for an additional three (3) months from January 18, 2024 to April 18, 2024, and subsequently (iii) seven (7) times for an additional one (1) month each time from April 18, 2024 to November 18, 2024 (the “Extension Amendment Proposal”), is approved at the Company's previously announced extraordinary general meeting (the “Meeting”) and the extension is implemented, its sponsor, 10XYZ Holdings LP, or its sponsor's designees will contribute to the Company as a loan, the lesser of (a) $200,000 or (b) $0.10 per public share that is not redeemed, for the additional three (3) month extension from January 18, 2024 to April 18, 2024 and the lesser of (x) $66,667 or (y) $0.03 per public share that is not redeemed, for each month during the subsequent additional one (1) month extensions from April 18, 2024 to November 18, 2024 (“Contribution”), that is needed to complete an initial business combination.
