NEW YORK, Jan. 30, 2020 /PRNewswire/ -- Wealthbridge
Acquisition Limited (NASDAQ: HHHHU, the "Company"), a special
purpose acquisition company, announced today that Scienjoy Inc.
("Scienjoy"), has deposited into the Company's trust account (the
"Trust Account") an aggregate of $575,000 (representing approximately $0.10 per share of common stock), in order to
extend the period of time the Company has to complete a business
combination for an additional three (3) months period, from
February 8, 2020 to May 8, 2020. The Company issued a
promissory note to Scienjoy with a principal amount equal to the
amount deposited. The promissory note bears no interest and is
convertible into the Company's units (with each unit consisting of
one ordinary share, one warrant to purchase one-half of one
ordinary share, and one right to receive one-tenth of one ordinary
share upon the consummation of the Company's initial business
combination) at a price of $10.00 per
unit at the closing of a business combination by the Company. The
purpose of the extension is to provide time for the Company to
complete a business combination.
About Wealthbridge Acquisition Limited
Wealthbridge Acquisition Limited is incorporated in
the British Virgin Islands as a blank check company for
the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or
similar business combination with one or more businesses or
entities. The Company's efforts to identify a prospective target
business have not been limited to a particular industry or
geographic region, although the Company intended to focus on
targets located in China.
Forward-Looking Statements
This press release includes forward-looking statements that
involve risks and uncertainties. Forward looking statements are
statements that are not historical facts. Such forward-looking
statements, including the successful consummation of the Company's
initial public offering, are subject to risks and uncertainties,
which could cause actual results to differ from the forward looking
statements. The Company expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Yongsheng Liu
Chief Executive Officer
Wealthbridge Acquisition Limited
+(86) 186-0217-2929
winstonca@163.com
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SOURCE Wealthbridge Acquisition Limited
