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GlobeNewsWire
11 months ago
TMT Acquisition Corp Announces Changes to Contribution to Trust Account and the Use of Funds in Trust Account to Pay Dissolution Expenses in Connection with Extension Amendment Proposal
New York, NY, Sept. 25, 2024 (GLOBE NEWSWIRE) -- TMT Acquisition Corp (Nasdaq: TMTCU, TMTC, and TMTCR) (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 (the “Combination Period”) for a total of up to five (5) times, as follow: (i) two (2) times for an additional three (3) months each time from March 30, 2024 to September 30, 2024 (the “First Extension Period”); and subsequently (ii) three (3) times, for an additional one (1) month each time, from September 30, 2024 to December 30, 2024 (the “Second Extension Period”), if requested by the Sponsor (as defined herein) and upon two calendar days' advance notice prior to the applicable deadline (such proposal, the “Extension Amendment Proposal”), is approved at the Company's previously announced extraordinary general meeting, as subsequently postponed or adjourned (the “Meeting”), and the extension is implemented, its sponsor, 2TM Holding LP, or its sponsor's designees will contribute to the Company as a loan $140,000 for each month during the additional one (1) month extensions in the Second Extension Period from September 30, 2024 to December 30, 2024 (“Contribution”), that is needed to complete an initial business combination. In addition, if the Extension Amendment Proposal is approved, the funds held in the Trust Account shall not be used to pay dissolution expenses.
