Mana Capital Acquisition to extend consummation period for the business combination

Aug. 23, 2022 4:27 PM ETCDIO, CDIOW, MAAQRBy: Manshi Mamtora, CFA
  • Mana Capital Acquisition (MAAQ) (MAAQU) Board of Directors has approved an extension of the period to consummate its initial business combination by one month from August 26, 2022 to September 26, 2022.

  • Pursuant to the merger agreement, dated May 27, 2022, among the company, Mana Merger Sub, Cardio Diagnostics, and Meeshanthini (Meesha) Dogan, as representative of the shareholders of Cardio, Cardio is expected to deposit $216,667 into the trust account for the company’s public stockholders by August 26, 2022, representing $0.033 per public share sold in the company’s initial public offering, which will enable the company to effectuate the extension.

  • The company’s governing documents permit a total of 12 one-month extensions.

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