Stellar Acquisition III Inc. to Extend Period to Consummate Acquisition
February 20 2018 - 9:15AM
Stellar Acquisition III Inc. (NASDAQ:STLRU) (the "Company" or
"Stellar") today announced that the Company’s sponsors (the
“Sponsors”) have notified the Company of their intention to deposit
into the Company’s trust account (the “Trust Account”), an
aggregate of $402,536 (less interest earned on the funds in the
Trust Account available for withdrawal), representing $0.058 per
public share, by February 24, 2018, in order to extend the period
of time the Company has to consummate a business combination by
three months to May 24, 2018. The Company intends to announce by
Monday, February 27, 2018 whether such funds have been deposited
into the Trust Account.
About Stellar
Stellar 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, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a target business will
not be limited to a particular industry or geographic region,
although it intends to focus efforts on seeking a business
combination with a company or companies in the international oil
and gas logistics, land and maritime oil and gas transportation,
terminal and energy storage industries.
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements,” including the funding of
the Trust Account to extend the period of time for the Company to
consummate an initial 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 Securities and Exchange Commission (“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.
Source: Stellar Acquisition III Inc.
Company Contact:George Syllantavosco-CEO &
CFOStellar Acquisition III Inc.90 Kifissias Avenue,Maroussi 15123,
Athens, Greece Email: gs@stellaracquisition.com Website:
www.stellaracquisition.com
Investor Relations / Media Contact: Daniela
GuerreroCapital Link, Inc. 230 Park Avenue, Suite 1536 New York,
N.Y. 10169 Tel.: (212) 661-7566 Fax: (212) 661-7526 E-Mail:
stellaracquisition@capitallink.com
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