New York, April 25, 2023 (GLOBE NEWSWIRE) — Blue World Acquisition Corporation (the “Company”) BWAQ today announced that its previously announced extraordinary general meeting of shareholders (the “Meeting”) for the purpose of considering and voting on, among other proposals, a proposal to amend its current charter (the “Charter Amendment Proposal”) to provide BWAQ has until May 2, 2023 to complete a business combination and may elect to extend up to nine times, each by one-month (“Monthly Extension”), for a total up to nine months to February 2 2024 (such extension, the “Extension”) will be postponed from 9:00 a.m. Eastern Time on April 26, 2023 to 9:00 a.m. Eastern Time on May 2, 2023 (the “Postponement”) to allow the Company additional time to engage with shareholders.
The Company also announced today that if the Charter Amendment Proposal is approved at the Meeting and the Extension is implemented, for each Monthly Extension, a deposit of $0.0295 per remaining public share shall be made into the trust account. Accordingly, the Trust Amendment Proposal is revised to reflect revised Monthly Extension Fee of $0.0295 per public share instead of $0.035 per public share.
The record date for determining the Company shareholders entitled to receive notice of and to vote at the Meeting remains the close of business on April 5, 2023 (the “Record Date”). Shareholders as of the Record Date can vote, even if they have subsequently sold their shares. Shareholders who have previously submitted their proxies or otherwise voted and who do not want to change their vote need not take any action. Shareholders who have not yet done so are encouraged to vote as soon as possible.
As a result of the Postponement, the previously disclosed deadline of April 24, 2023 (two business days before the Meeting, as originally scheduled) for delivery of redemption requests from the Company’s shareholders to the Company’s transfer agent has been extended to April 28, 2023 (two business…
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