Miami, FL, Aug. 08, 2022 (GLOBE NEWSWIRE) — Maquia Capital Acquisition Corporation (NASDAQ: MAQC) (the “Company”) announced today that its sponsor, Maquia Investments North America, LLC (the “Sponsor”), has deposited an additional payment in the aggregate of $1,730,971.90 (representing $0.10 per public share) (the “Extension Payment”) into the Company’s trust account for its public stockholders. This deposit enables the Company to extend the date by which the Company has to complete its initial business combination from August 7, 2022 to November 7, 2022 (the “Extension”). The Extension is the second of two three-month extensions permitted under the Company’s governing documents.
The Sponsor has loaned an aggregate of $3,461,943.80 to the Company to support the two extensions, $1,500,000 of which loan is convertible, at the Sponsor’s discretion, into units identical to the units issued in the Company’s private placement that was consummated in connection with the Company’s initial public offering.
About Maquia Capital Acquisition Corporation
The Company is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its search on technology-focused middle market and emerging growth…
