Ackrell SPAC Partners I Co. Announces Increase in Deposit to Trust Account for Each Monthly Extension of Time to Complete Business Combination in Connection With Special Meeting of Stockholders to Vote Upon Extension

New York, NY, June 14, 2022 (GLOBE NEWSWIRE) -- Ackrell SPAC Partners I Co. (NASDAQ: ACKIU) (“Ackrell” or the “Company”), a special purpose acquisition company, today issued a press release in which it announced that in connection with its special meeting of stockholders to be held on June 21, 2022 for stockholders to consider and vote on a proposal to extend the time the Company has to consummate an initial business combination at the request of the Sponsor on a monthly basis from June 23, 2022 to September 23, 2022, subject to the approval of the Board of Directors of the Company, the Sponsor or its designees will be required to deposit into the trust account for each extension an amount equal to the lesser of $0.043 per share and $200,000.  Holders of shares of common stock underlying the subunits issued in the Company’s initial public offering will have until 5:00 p.m. Eastern Time on Thursday, June 16, 2022 to request the redemption of their public shares into their pro rata portion of the funds held in the trust account.

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