Target (NYSE:TGT) Global Acquisition I Corp. (the "Company"), a blank check company, has announced an extension of the deadline to complete its business combination. The Company's board of directors approved the extension request from the chief executive officer, moving the termination date from January 9, 2025 to February 9, 2025.
This extension is the second of a potential six extensions, each allowing for an additional month to consummate a business combination, as per the Company's Amended and Restated Memorandum and Articles of Association. The initial deadline was set for December 9, 2024, with the possibility of extension until June 9, 2025.
The Company is currently in a proposed transaction with Venhub Global, Inc. ("VenHub"), and the extension provides additional time for the process to be completed. The transaction is subject to approval by the Company's shareholders and regulatory authorities. Investors are advised to read the proxy statement/prospectus and other documents filed with the SEC regarding the proposed transaction, as they contain important information.
The Company has also made forward-looking statements regarding the anticipated benefits of the transaction, the expected timing, and the potential impact on its business. These statements are subject to various risks and uncertainties, and there can be no guarantees that the anticipated benefits will materialize or that the transaction will be completed within the newly extended timeframe.
The information in this article is based on a press release statement from the SEC filing by Target Global Acquisition I Corp.
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