In a remarkable display of market confidence, Bukit Jalil Global Acquisition (BUJAU) stock has soared to an all-time high, with shares hitting the $12.04 mark. This milestone underscores a period of robust growth for the company, which has seen its stock value climb by an impressive 14.53% over the past year. Investors have rallied behind BUJAU, buoyed by strong performance indicators and optimistic future projections, catapulting the stock to new heights and setting a new benchmark for the company's financial success.
In other recent news, Bukit Jalil Global Acquisition 1 Ltd. has announced an extension to its deadline for completing a business combination. This marks the third one-month extension utilized by the company, extending the period until September 30, 2024. The extension was facilitated by an additional $100,000 deposit into its trust account, funded by issuing a promissory note to the company's sponsor, Bukit Jalil Global Investment Ltd.
The note provides the sponsor with an option to convert the debt into private units of the company upon the business combination's completion. The conversion price for the units is set at $10.00 per unit. This follows the company's extraordinary general meeting in June 2024, where shareholders approved amendments to the company's memorandum and articles of association, extending the deadline for completing a business combination to June 30, 2025.
These recent developments also saw the redemption of 2,820,485 ordinary shares, a process that has since been completed. The issuance of the note and the potential future issuance of units are subject to certain conditions, including registration rights and limitations on transferability until the completion of the business combination.
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