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Ackrell SPAC Confirms Funding to Extend Period to Consummate Initial Business Combination

[Link to Press Article]



New York, NY, March 21, 2022 (GLOBE NEWSWIRE) -- Ackrell SPAC Partners I Co. (NASDAQ: ACKIU) (“Ackrell” or the “Company”), announced today that an aggregate of $1,380,000 (the “Extension Payment”) has been deposited into the Company’s trust account for its public stockholders, representing $0.10 per public unit, which enables the Company to further extend the period of time it has to consummate its initial business combination by three months from March 23, 2022 to June 23, 2022 (the “Extension”). The Extension is the second of up to two three-month extensions permitted under the Company’s governing documents.


The Extension was funded by the proceeds from a promissory note issued by the Company to North Atlantic Imports, LLC, a Utah limited liability company d/b/a Blackstone Products, which entered into a business combination agreement with the Company, among others, on December 22, 2021.

[Link to Press Article]

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