NEW YORK, Aug. 3, 2020 /PRNewswire/ -- Orisun Acquisition
Corp.(NASDAQ: ORSNU, the "Company"), a special purpose acquisition
company, announced today that its sponsor Everstone Investments LLC
("Everstone") and Ucommune Group Holdings LLC ("Ucommune"),
collectively have deposited into the Company's trust account (the
"Trust Account") an aggregate principal amount of $444,002, (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 August 6, 2020 to
November 6, 2020. The Company
issued two unsecured promissory notes, each in an amount of
$222,001, to Everstone and Ucommune
respectively with a principal amount equal to the amount deposited.
The promissory notes bear no interest and are convertible into the
Company's units (with each unit consisting of one share of common
stock, one warrant to purchase one-half of one share of common
stock, and one right to receive one-tenth of one share of common
stock 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 Orisun Acquisition Corp.
Orisun Acquisition Corp. is incorporated in the State of Delaware 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. Orisun's efforts to identify a prospective target
business have not been limited to a particular industry or
geographic region.
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.
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SOURCE Orisun Acquisition Corp.