Focus Impact BH3 Acquisition Co (OTC Pink:BHAC), a special purpose acquisition company currently trading near its 52-week low of $10.22, has amended its Business Combination Agreement with XCF Global Capital, Inc. to extend the merger deadline.
The original agreement, established on March 11, 2024, set the termination date for November 11 of the same year. However, the amendment, dated November 29, 2024, pushes this date to the end of March 2025, providing additional time for the companies to complete the proposed transaction.
Focus Impact BH3 Acquisition Company, previously known as Crixus BH3 Acquisition Co, and before that as BH3 Acquisition Corp., is a Delaware corporation based in New York. The company is classified under the Blank Checks industrial category and operates under the name 05 Real Estate & Construction.
The directors, executive officers, and other members of management of both BHAC and XCF may be considered participants in the solicitation of proxies in connection with the business combination.
In other recent news, Focus Impact BH3 Acquisition Co has announced a restatement of its 2023 financial statements due to an accounting error regarding the misclassification of Deferred Underwriting Commissions. The company also disclosed its plans for a proposed business combination with XCF Global Capital, Inc., pending shareholder and regulatory approvals.
As part of these developments, the company has transitioned its units, common stock, and warrants from The Nasdaq Global Market to The Nasdaq Capital Market.
In addition, Focus Impact BH3 Acquisition Co has announced it will be delisted from The Nasdaq Stock Market LLC due to the company's failure to complete a business combination within the required period. Despite the delisting, the company remains committed to its planned merger with XCF Global Capital, Inc. and intends to relist the combined entity post-merger.
Furthermore, Focus Impact BH3 Acquisition Co has extended its merger deadline from July 31, 2024, to February 7, 2025, with provisions for two additional one-month extensions if necessary. To facilitate these changes, the company is negotiating non-redemption agreements with certain stockholders, potentially offering additional shares of Class A common stock in the new entity expected to result from the business combination with XCF Global Capital, Inc.
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