MIAMI, July 5, 2023
/PRNewswire/ -- 26 Capital Acquisition Corp. ("26 Capital")
(NASDAQ: ADER) confirms that on June 30,
2023, it received a purported notice of termination of the
Agreement and Plan of Merger and Share Acquisition, dated as of
October 15, 2021, from Tiger Resorts
Asia Ltd ("Tiger Resorts"). 26 Capital believes that the
termination notice is baseless. 26 Capital believes that Tiger
Resorts and its affiliates have engaged in repeated contractual
breaches to avoid closing, which is the subject of a pending
Delaware litigation going to trial
on July 10, 2023. 26 Capital refers
to the public docket for the litigation for background on the Tiger
Resorts allegations, which 26 Capital believes are meritless. 26
Capital is eager to commence trial on July
10, 2023 and remains fully committed to closing the
transaction and improving the merged company's corporate
governance.
About 26 Capital Acquisition Corp.
26 Capital Acquisition Corp. (NASDAQ: ADER) is a Nasdaq-listed
blank check company formed for the purpose of creating stockholder
value by identifying an acquisition target with significant growth
opportunities that the 26 Capital team can enhance by utilizing its
experience and track record of creating and unlocking value, with
particular focus in gaming, gaming technology, lodging, and
entertainment. 26 Capital is led by Jason
Ader of SpringOwl Asset Management. Mr. Ader has over 26
years of experience as an institutional investor, asset manager,
and research analyst, with particular expertise in the gaming and
hospitality industries. SpringOwl Asset Management has raised more
than $1 billion in capital since it
was founded in 2013.
No Offer or Solicitation
This press release shall not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination transaction. This
press release shall also not constitute an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any states or jurisdictions in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
Forward-Looking Statements
This press release may include "forward-looking statements"
within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995. These
forward-looking statements that involve risks and uncertainties,
including statements regarding the business combination
transaction, including related to the closing of the transaction.
If any of these risks or uncertainties materialize, or if any of 26
Capital's assumptions prove incorrect, 26 Capital's actual results
could differ materially from the results expressed or implied by
these forward-looking statements. Additional risks and
uncertainties include those associated with: the possibility that
the conditions to the closing of the business combination
transaction are not satisfied, including the risk that required
approvals from 26 Capital's stockholders for the transaction are
not obtained; potential litigation relating to the transaction;
uncertainties as to the timing of the consummation of the
transaction; the ability of each party to consummate the
transaction; and other risks and uncertainties detailed in the
periodic reports that 26 Capital and the UEC Parties file with the
SEC. All forward-looking statements in this communication are based
on information available to 26 Capital as of the date of this
communication, and 26 Capital does not assume any obligation to
update the forward-looking statements provided to reflect events
that occur or circumstances that exist after the date on which they
were made, except as required by law.
Contact: ltyther@5wpr.com
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SOURCE 26 Capital