26 Capital and UERI Extend Merger Deadline to October 2023
26 Capital Acquisition Corp. and UE Resorts International (UERI) have opted to extend the timeframe for their merger contract.
While reiterating their dedication to the transaction initially unveiled on October 15, 2021, the two entities concurred on a revised closing date of October 1, 2023. This supersedes the prior deadline of October 1, 2022.
26 Capital indicated that this postponement demonstrates the commitment of both sides to effectively concluding the amalgamation, affording additional time for the procedure. Both firms will persist in their efforts toward a prompt finalization.
The merger will make UERI a publicly traded entity, listing its ordinary shares and warrants on the Nasdaq Stock Exchange. This action merges the capabilities of both organizations, aspiring to liberate value and generate expansion prospects.
Jason Ader, Chairman and CEO of 26 Capital, conveyed his ongoing eagerness for the agreement, emphasizing the promising chance for stakeholders to access one of Asia’s most rapidly expanding gaming sectors.
The decision by ‘Universal Entertainment’ to prolong their contract for an additional year demonstrates their continued pursuit of Okada Manila, notwithstanding the preceding turmoil.”
“Recall the incident a few months prior when Kazuo Okada forcefully entered Okada Manila with his associates? Adel even discussed the matter with Gaming Inside recently. It appears Universal remains intent on finalizing this transaction and putting the entire ordeal behind them.”
