PR Newswire
NEW YORK , July 7, 2023 /PRNewswire/ -- Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) (the "Company"), a special purpose acquisition corporation, announced that Atlantic Coastal Acquisition Management LLC, the Company's initial public offering sponsor (the "Sponsor"), has deposited $80,000 into the Company's trust account (the "Trust Account) in order to extend the period of time that the Company has to complete a business combination for an additional one (1) month period, from July 8, 2023 to August 8, 2023 . The Company had previously extended the period of time it had to complete a business combination from June 8, 2023 to July 8, 2023 . In exchange for the Sponsor's additional contribution to the Trust Account, the Company issued a convertible promissory note to the Sponsor in an aggregate principal amount of $80,000 . The purpose of the extension is to provide additional time for the Company to complete a business combination.
About Atlantic Coastal Acquisition Corp.
Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) is a special purpose acquisition company. On March 8, 2021 , Atlantic Coastal announced the closing of its IPO and listing on Nasdaq. The Atlantic Coastal team is led by Chairman and CEO Shahraab Ahmad, President and Director Burt Jordan , and CSO Director Tony Eisenberg . For more information, please visit www.atlantic-coastal.com .
Forward-Looking Statements
This press release may contain statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's 10-K filed with the SEC. Copies are available on the SEC's website, www.sec.gov . The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact: hello@atlanticcoastal.io
SOURCE Atlantic Coastal Acquisition