Quetta Acquisition Corporation Extends Time for Business Combination Pursuant to Trust Amendment

Quetta Acquisition Corporation (NASDAQ: QETAU) recently disclosed in an 8-K filing with the Securities and Exchange Commission that the company has entered into an amendment to its investment management trust agreement with Continental Stock Transfer & Trust Company. As approved by stockholders at a special meeting held on January 10, 2025, this amendment, known as the “Trust Amendment,” allows the company the option to prolong the time to complete a business combination on a month-to-month basis. This extension can be exercised from January 10, 2025, to October 10, 2026, by depositing $60,000 for each one-month extension into the company’s trust account.

In the event of a missed payment during the extension period, the company will have a 45-day Cure Period to resolve any overdue payments. Failure to rectify the payment within the Cure Period will necessitate a halt in operations, except for winding up purposes, leading to liquidation and dissolution if a business combination is not completed within thirty-six months from the completion of the company’s initial public offering.

Quetta Acquisition Corporation has already made the initial payment of $60,000 under the Trust Amendment, extending the deadline for a business combination until February 10, 2025. In a separate decision at the special meeting, shareholders also approved an amendment to the company’s second amended and restated certificate of incorporation. This amendment extends the date by which a business combination must be completed from January 10, 2025, to October 10, 2026.

Furthermore, shareholders approved amendments to the acquisition criteria, now encompassing entities with primary business operations in regions including China, Hong Kong, and Macau. These decisions were put to vote at the Special Meeting, where a significant portion of common stock shares were represented, indicating shareholder engagement in the company’s strategic decisions.

The meeting also saw a substantial redemption of shares, with approximately 5,199,297 shares tendered for redemption, totaling around $55,152,223.72. Following redemptions, the trust account will retain around $18,040,429.76, leaving 3,747,748 ordinary shares outstanding.

In compliance with reporting requirements, the company outlined relevant details in Exhibits attached to the 8-K filing, including the Second Amended and Restated Certificate of Incorporation and the Amendment to the Investment Management Trust Agreement. The filing also includes a Cover Page Interactive Data File, fulfilling disclosure commitments under SEC regulations.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Quetta Acquisition’s 8K filing here.

Quetta Acquisition Company Profile

Quetta Acquisition Corporation focuses on effecting a merger, capital stock exchange, share purchase, asset acquisition, recapitalization, reorganization, or related business combination with one or more businesses. It intends to focus on financial technology sector in Asia. The company was incorporated in 2023 and is based in New York, New York.