NEW
YORK, Sept. 23, 2022 /PRNewswire/ -- Epiphany
Technology Acquisition Corp. (the "Company") announced today that
the company's Board of Directors (the "Board") has approved an
increase in the size of the Board from seven (7) directors to
eleven (11) directors and elected Ross
Haghighat, Stephen Sherwin,
Ronald Eastman and Louis Lange as members of the Board. In
addition, the Board appointed Mr. Ross
Haghighat as Co-Chief Executive Officer of the Company. The
Board determined that each of Messrs. Stephen Sherwin, Ronald
Eastman and Louis Lange is an
"independent director" as defined in the Nasdaq listing standards
and applicable rules of the Securities and Exchange Commission.
While the Company may pursue an initial business combination
with a partner company in any business or industry, it initially
focused on technology businesses. The public markets in general, as
well as the SPAC market in particular, remain challenged, making it
difficult for us to partner with a high-quality technology company
at an attractive valuation. We decided to expand our focus to
include the biotechnology industry, where we believe the market
backdrop remains more favorable. To this end, we have augmented our
management team and board with highly qualified individuals with
significant experience building, operating and investing in
biotechnology companies.
The Company is blank check company organized for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, recapitalization, reorganization, or other similar
business combination with one or more businesses or entities.
FORWARD-LOOKING STATEMENTS
This press release may contain statements that constitute
"forward-looking statements," including with respect to the initial
public offering. No assurance can be given that the offering
discussed above will be completed on the terms described, or at
all. 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 preliminary prospectus for the offering
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.
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SOURCE Epiphany Technology Acquisition Corp