NEW
YORK, March 10, 2023 /PRNewswire/ -- Monterey
Bio Acquisition Corporation (Nasdaq: MTRYU) today announced a
rebrand to Monterey Innovation Acquisition Corp. ("Monterey
Innovation" or "the Company"), expanding its acquisition strategy
to include a broader universe of disruptive technology targets,
which is further enabled by key additions to the board of directors
and changes to the Company's management team.
Along with existing directors, James
Neal, Frances Heller, and
Sandip Patel, Monterey Innovation
proudly welcomes Chris Coleman,
Jory Des Jardins, and Roderick Hardamon to the board, with
Jonas Grossman assuming the
Executive Chairman role. The Company's current officers will
be replaced by Murat Omur as Chief
Executive Officer and Sean McGann as
Chief Financial Officer. Both senior investment bankers at
Chardan, Mr. Omur and Mr. McGann join Monterey Innovation's
management team with significant SPAC and investment banking
experience, having been a part of the advisory team for several
Chardan sponsored and co-sponsored SPACs.
The Company intends to capitalize on the extensive relationships
of its board and management team to identify and acquire a
disruptive technology business to bring to the public markets.
About Monterey Innovation Acquisition Corp.
Monterey Innovation Acquisition Corp. is a blank check company,
also commonly referred to as a special purpose acquisition company,
or SPAC, formed for the purpose of entering into a merger, share
exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination with one or
more businesses or entities. While the Company may pursue an
initial business combination in any region or sector, it intends to
focus its efforts on identifying a disruptive technology company
that has demonstrated success and is primed to thrive in the public
markets for its initial business combination.
For more information, please
visit www.MontereyInnovation.com.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
Company's expansion of its acquisition strategy, the Company's
intention to capitalize on the extensive relationships of its board
and management team in this regard, the anticipated use of the net
proceeds of the offering and the Company's search for an initial
business combination. No assurance can be given that the Company
would be able to identify a suitable business combination target
and/or consummate a business combination. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company's annual report on Form 10-K
filed with the SEC on March 29, 2022.
Copies are available on the SEC's website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Contact
Monterey Innovation Acquisition Corp.
info@montereyinnovation.com
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SOURCE Monterey Innovation Acquisition Corp.