Alberton Acquisition Corporation Announced Revised Contribution in connection with the Extension and Issuance of a Promissory Note under a Non-Binding Letter of Intent
Alberton Acquisition Corporation - Ordinary Shares (ALAC)
Company Research
Source: GlobeNewswire
New York, April 20, 2020 (GLOBE NEWSWIRE) -- Alberton Acquisition Corporation (NASDAQ: ALAC, the “Company”) today announced that in light of the upcoming special shareholder meeting to be held on April 23, 2020, if the shareholders approves to extend the date by which the Company must complete its initial business combination from April 27, 2020 to October 26, 2020 or such earlier date as determined by the board (the “Extension”), for aggregate public shares that are not redeemed by the public shareholders in connection with the Extension (collectively, the “Remaining Shares”, each, a “Remaining Share”), for each monthly period, or portion thereof, that is needed by the Company to complete an initial business combination, it will deposit $60,000 per month during the Extension into the trust account as additional interest on the proceeds in the trust account Extension (the “Cash Contribution”). The deposit of first two months’ contribution of $120,000 will be made within 7 busines
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