Atlantic Coastal Acquisition Corp. Announces Extension of Business Combination Period and Additional Contribution to Trust Account

Provided By PR Newswire

Last update: Jun 6, 2023

NEW YORK, June 6, 2023 /PRNewswire/ -- Atlantic Coastal Acquisition Corp. (NASDAQ: ACAH) (the "Company"), a special purpose acquisition corporation, announced that Atlantic Coastal Acquisition Management LLC, the Company's initial public offering sponsor (the "Sponsor"), has deposited $80,000 into the Company's trust account (the "Trust Account) in order to extend the period of time that the Company has to complete a business combination for an additional one (1) month period, from June 8, 2023 to July 8, 2023. In exchange for the Sponsor's additional contribution to the Trust Account, the Company issued a convertible promissory note to the Sponsor in an aggregate principal amount of $80,000. The purpose of the extension is to provide additional time for the Company to complete a business combination.