26 Capital Acquisition Corp. and UE Resorts International (UERI) have extended the deadline for their merger contract. Although both firms reiterated their commitment to the transaction originally declared on October 15, 2021, they have consented to a postponement.
The agreement, originally scheduled to lapse on October 1, 2022, now has a deadline of October 1, 2023.
26 Capital indicated that this continuation illustrates their devotion to concluding this amalgamation and allows the required timeframe to accomplish it. Both corporations are eager to finalize the transaction as quickly as possible.
The merger will result in UERI becoming a publicly listed company on the NASDAQ stock market. This will unite the capabilities of both organizations, forming a robust entity positioned for expansion and shareholder value generation.
Jason Ader, Chairman and CEO of 26 Capital, conveyed his enthusiasm about the agreement, emphasizing the chance for investors to access one of Asia’s most rapidly expanding gaming sectors.
The aspiration of Universal Entertainment to prolong the contract for an additional year plainly demonstrates the dedication of both sides to concluding this purchase.”
This declaration was given last month during a conversation with Gaming Inside Magazine. The discussion centered around Universal Entertainment’s endeavors to reclaim authority over Okada Manila. As a refresher, Okada Manila was taken in May by its censured originator, Kazuo Okada, who had earlier been ousted from the directorial group.
