- Special purpose acquisition company OCA Acquisition ( OCAX ) said OCA Acquisition Holdings has loaned funds to the company to enable an extension of the date for OCAX's initial business combination.
- The date for the completion of initial business combination is intended to be extended from Jul. 20, 2022, to Jan. 23, 2023, to provide the company with additional time.
- The loaned amount of an additional $747.5K represents $0.05 per public share.
- The loan is convertible, at the discretion of OCA Acquisition Holdings, into warrants, identical to the warrants issued in the company's private placement that was consummated in connection with the company's IPO.
- Source: Press Release
For further details see:
OCA Acquisition receives loan for extension of initial business combination date