TradeUP Acquisition Corp Extends Deadline for an Initial Business Combination By Investing.com

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TradeUP Acquisition Corp Extends Deadline for an Initial Business Combination By Investing.com


TradeUP Acquisition Corp (UPTD) Extends Deadline for an Initial Business Combination

TradeUP Acquisition Corp. (the “Company” or “TradeUP”) (UPTD) today announced that, in order to extend the date by which the Company must complete its initial business combination from July 19, 2023 to August 19, 2023, for each public share that is not redeemed by the Company’s stockholders in connection with such extension (collectively, the “Remaining Shares”, each, a “Remaining Share”), the Company has deposited into its trust account (the “Trust Account”) an aggregate of $37,432.70 (the “Monthly Extension Fee”), representing $0.05 per Remaining Share of the Company.

The payment for such Monthly Extension Fee was made by Star Biopharma, Inc.a Delaware corporation (“Estrella”), pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), entered by and among the Company, Tradeup Merger Sub Inc.a Delaware corporation and direct and wholly owned subsidiary of UPTD (“Merger Sub”), and Estrella on September 30, 2022.

Pursuant to the Company’s current Charter, the Company may extend on monthly basis from July 19, 2023 to July 14, 2024 or such an earlier date as may be determined by its board to complete a business combination by depositing the Monthly Extension Fee for each month into the Trust Account.



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