McLaren Technology Acquisition Corp. Announces Extension of Deadline to Complete Business Combination
February 02 2023 - 5:10PM
McLaren Technology Acquisition Corp. (NASDAQ: MLAI) (the
“Company”) announced today that its sponsor, McLaren Technology
Acquisition Sponsor LLC (the “Sponsor”), has requested that the
Company extend the date by which the Company has to consummate a
business combination from February 5, 2023 to March 5, 2023 (the
“Extension”). The Extension is the first of six one-month
extensions permitted under the Company’s governing documents. In
connection with the Extension, the Sponsor has loaned the Company
an aggregate of $664,125 (representing $0.033 per public share),
which was deposited into the Company’s trust account on January 31,
2023. The Extension provides the Company with additional time to
complete its initial business combination.
About McLaren Technology Acquisition
Corp.
The Company is a blank check company formed for
the purpose of effecting a merger, capital stock exchange, asset
acquisition, stock purchase, reorganization or similar business
combination with one or more businesses. While the Company may
pursue an initial business combination target in any business,
industry or geographic location, it intends to focus its search on
companies within the banking, financial services and insurance
sector that leverage artificial intelligence, machine learning,
digital, technology, and fintech. The Company is led by Chairman
and Chief Executive Officer, Sajan Pillai, Chairman of McLaren
Strategic Ventures Holdings Group and former Chief Executive
Officer of UST Global, President and Director, John Vilina, CFO/COO
of McLaren Strategic Ventures Holdings Group, Chief Operating
Officer, Murali Gopalan, former Chief Commercial Officer of UST
Global, and Chief Financial Officer, Rajeev Nair, former Head of
Corporate Finance of UST Global.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements.” 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 registration statement and
prospectus for its initial public offering, as well as other
Company filings, filed with the SEC. 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
Sajan PillaiMcLaren Technology Acquisition
Corp.(949) 989-4638
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