Bannix Secures Monthly Extension for Business Combination Completion

Deal News | Apr 14, 2025 | EIN

Bannix Acquisition Corp., a blank check company or Special Purpose Acquisition Company (SPAC), announced a monthly extension for its business combination deadline, with the new extended date set to May 14, 2025. This decision follows a vote held among Bannix stockholders on March 7, 2025, allowing the company the right to extend its business combination deadline up to three times, for one month each, until June 14, 2025. The extension was prompted by a request from the Sponsor, Instant Fame LLC, with financial arrangements involving a loan deposit to the trust account, contingent on the number of shares not redeemed. Bannix's aim is to execute a strategic merger or similar combination with one or more businesses. The company's forward-looking statements highlight potential business combinations and reflect management's projections, emphasizing the cautious nature of such forecasts amid various influencing factors.

Sectors

Financial Services
Investment Banking & Securities

Geography

United States – The primary location of Bannix Acquisition Corp., its operations, and stockholder activities as per SEC filings.

Industry

Financial Services – Involves Bannix Acquisition Corp., a SPAC, and its activities related to financial structuring for mergers and acquisitions.
Investment Banking & Securities – Covers the M&A processes and the structuring typical of a SPAC seeking a business combination.

Financials

$25,000 – Potential loan deposit into trust by Instant Fame LLC if fewer shares are redeemed.

Participants

Name	Role	Type	Description
Bannix Acquisition Corp.	Target Company	Company	A blank check company formed to effect business combinations through mergers or acquisitions.
Instant Fame LLC	Sponsor	Company	Acts as the sponsor for Bannix Acquisition Corp., responsible for making necessary financial arrangements during the extension.