Arisz Acquisition Corp. Announces Intent to Extend Deadline to Complete Business Combination
08 February 2023 - 1:00AM
Arisz Acquisition Corp. (NASDAQ: ARIZ (“
Arisz” or the
“
Company”), a special purpose acquisition company, announced
today that, on February 7, 2023, it notified the trustee of the
Company’s trust account of its intent to extend the time available
to the Company to consummate a business combination from February
22, 2023 to May 22, 2023 (the “
Extension”). The Extension is
the second of up to two three-month extensions permitted under
Arisz’s governing documents. In connection with such Extension,
Arisz Investments LLC, the Company’s sponsor, will deposit an
aggregate of $690,000 into Arisz’s trust account prior to February
22, 2023, on behalf of the Company. Arisz will issue a press
release the day after the applicable deadline announcing that the
funds have been timely deposited. The Extension provides Arisz with
additional time to complete its proposed business combination with
Finfront Holding Company (“BitFuFu”).
Important Notice Regarding Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, both as amended. Statements that are not
historical facts, including statements about the pending
transactions described above, and the parties’ perspectives and
expectations, are forward-looking statements. Such statements
include, but are not limited to, statements regarding the proposed
transaction, including the anticipated initial enterprise value and
post-closing equity value, the benefits of the proposed
transaction, integration plans, expected synergies and revenue
opportunities, anticipated future financial and operating
performance and results, including estimates for growth, the
expected management and governance of the combined company, and the
expected timing of the transactions. The words “expect,” “believe,”
“estimate,” “intend,” “plan” and similar expressions indicate
forward-looking statements. These forward-looking statements are
not guarantees of future performance and are subject to various
risks and uncertainties, assumptions (including assumptions about
general economic, market, industry and operational factors), known
or unknown, which could cause the actual results to vary materially
from those indicated or anticipated.
Such risks and uncertainties include, but are not limited to:
(i) risks related to the expected timing and likelihood of
completion of the pending transaction, including the risk that the
transaction may not close due to one or more closing conditions to
the transaction not being satisfied or waived, such as regulatory
approvals not being obtained, on a timely basis or otherwise, or
that a governmental entity prohibited, delayed or refused to grant
approval for the consummation of the transaction or required
certain conditions, limitations or restrictions in connection with
such approvals; (ii) risks related to the ability of Arisz and the
BitFuFu to successfully integrate the businesses; (iii) the
occurrence of any event, change or other circumstances that could
give rise to the termination of the applicable transaction
agreements; (iv) the risk that there may be a material adverse
change with respect to the financial position, performance,
operations or prospects of the BitFuFu or Arisz; (v) risks related
to disruption of management time from ongoing business operations
due to the proposed transaction; (vi) the risk that any
announcements relating to the proposed transaction could have
adverse effects on the market price of Arisz’s securities; (vii)
the risk that the proposed transaction and its announcement could
have an adverse effect on the ability of BitFuFu to retain
customers and retain and hire key personnel and maintain
relationships with their suppliers and customers and on their
operating results and businesses generally; (viii) the risk that
the combined company may be unable to achieve cost-cutting
synergies or it may take longer than expected to achieve those
synergies; and (ix) risks associated with the financing of the
proposed transaction. A further list and description of risks and
uncertainties can be found in the Prospectus dated November 17,
2021 relating Arisz’s initial public offering and in the
Registration Statement and proxy statement that will be filed with
the SEC by Arisz and/or its subsidiary in connection with the
proposed transactions, and other documents that the parties may
file or furnish with the SEC, which you are encouraged to read.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements.
Forward-looking statements relate only to the date they were made,
and Arisz, BitFuFu and their subsidiaries undertake no obligation
to update forward-looking statements to reflect events or
circumstances after the date they were made except as required by
law or applicable regulation.
Additional Information and Where to Find It
In connection with the transaction described herein, Arisz and
and/or its subsidiary will file relevant materials with the
Securities and Exchange Commission (the “SEC”), including
the Registration Statement on Form S-4 or Form F-4 and a proxy
statement (the “Registration Statement”). The proxy
statement and a proxy card will be mailed to stockholders as of a
record date to be established for voting at the stockholders’
meeting of Arisz stockholders relating to the proposed
transactions. Stockholders will also be able to obtain a copy of
the Registration Statement and proxy statement without charge from
Arisz. The Registration Statement and proxy statement, once
available, may also be obtained without charge at the SEC’s website
at www.sec.gov or by writing to Arisz at 199 Water Street, 31st
Floor, New York, NY 10038. INVESTORS AND SECURITY HOLDERS OF ARISZ
ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR
SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION
WITH THE TRANSACTIONS THAT ARISZ WILL FILE WITH THE SEC WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT ARISZ, BITFUFU AND THE TRANSACTIONS.
Participants in Solicitation
Arisz, BitFuFu and certain shareholders of Arisz, and their
respective directors, executive officers and employees and other
persons may be deemed to be participants in the solicitation of
proxies from the holders of Arisz common stock in respect of the
proposed transaction. Information about Arisz’s directors and
executive officers and their ownership of Arisz common stock is set
forth in the Prospectus dated November 17, 2021 and filed with the
SEC. Other information regarding the interests of the participants
in the proxy solicitation will be included in the proxy statement
pertaining to the proposed transaction when it becomes available.
These documents can be obtained free of charge from the sources
indicated above.
No Offer or Solicitation
This press release not a proxy statement or
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the transactions described above
and shall not constitute an offer to sell or a solicitation of an
offer to buy the securities of Arisz or BitFuFu, nor shall there be
any sale of any such securities in any state or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state or jurisdiction. No offering of securities shall be made
except by means of a prospectus meeting the requirements of Section
10 of the Securities Act of 1933, as amended, or an exemption
therefrom.
Arisz Acquisition Corp. Arisz Investor
Relations ir@ariszacquisition.com
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