On November 17, 2022, Kingswood Acquisition Corp.,
a Delaware corporation (“we”, “us”, “our”, or the “Company”),
issued a press release announcing that the special meeting originally scheduled for November 15, 2022, and adjourned to November 18, 2022
(the “Special Meeting”) is being further adjourned to November 23, 2022. At the Special Meeting, Company’s stockholders
will be asked for approval to further amend the Company’s amended and restated certificate of incorporation (the “Extension
Amendment”) to extend the period of time for completing an initial business combination until May 24, 2023. The Extension Amendment
would effectively provide for additional six months to complete an initial business combination.
As a result of this change, the Special Meeting
will now be held at 4:00 p.m., Eastern Time, on November 23, 2022, exclusively via live webcast at the following address: https://www.cstproxy.com/kingswoodacquisition/ext2022.
Also as a result of this change, the date and time by which stockholders seeking to exercise redemption rights must tender their public
shares physically or electronically and submit a request in writing that the Company redeem their public shares for cash to the Company’s
transfer agent, Continental Stock Transfer & Trust Company, is being extended to 5:00 p.m., Eastern Time, on November 21, 2022.
About Kingswood Acquisition Corp.
We are a blank check company incorporated under
the laws of the State of Delaware on July 27, 2020 for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or similar business combination with one or more businesses, which we refer to throughout this proxy
statement as our initial business combination. While we may pursue our initial business combination target in any stage of its corporate
evolution or in any industry or sector, we are focusing our search on companies with favorable growth prospects and attractive returns
on invested capital.
Additional Information and Where to Find It
The definitive proxy statement has been mailed
to the Company’s stockholders. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT
MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY. Investors and security holders may obtain free copies of these
documents and other documents filed with the SEC at the SEC’s web site at www.sec.gov. In addition, the documents filed by Company
with the SEC may be obtained free of charge by contacting Company at Michael Nessim, Chief Executive Officer, Kingswood Acquisition Corp.,
Email: mnessim@kingswoodus.com, (212) 404-7002.
Participants in the Solicitation
Company and its sponsor, officers and directors
may be deemed to be participants in the solicitation of proxies from Company stockholders. Information about Company’s sponsor,
officers and directors and their ownership of Company common shares is set forth in the proxy statement for Company’s Special Meeting
of Stockholders, which was filed with the SEC on October 25, 2022, and in Company’s Annual Report on Form 10-K for the year ended
December 31, 2021, which was filed with the SEC on March 31, 2022. Investors and security holders may obtain more detailed information
regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the transaction by reading
the preliminary and definitive proxy statements regarding the transaction, which will be filed by Company with the SEC.
Non-Solicitation
This Current Report on Form 8-K is not a proxy
statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Extension
Amendment shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company, 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 offer 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.
