NEW YORK, Nov. 27, 2020 (GLOBE NEWSWIRE) — Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) (“Trident”), a particular goal acquisition firm, introduced that it has filed a proxy complement to its annual assembly proxy assertion (the “Complement”). The Complement explains sure modifications to the phrases beneath which Trident can lengthen its out there time to finish a enterprise mixture. If stockholders approve the modification to Trident’s certificates of incorporation on the November 30, 2020 stockholder’s assembly (the “Annual Assembly”), which permits Trident the flexibility to increase the date by which it has to finish a enterprise mixture by a further three months and with a capability to additional lengthen for a further three months if permitted by Trident’s board of administrators, Trident shall be required to deposit further funds into the belief account beneath the next phrases:
- With respect to the primary month of the extension, Trident or its insiders should deposit $0.05 for every public share of widespread inventory that has not redeemed in reference to the Annual Assembly, and such deposit should happen on or previous to December 1, 2020.
- For every month of the extension thereafter, if the each day quantity weighted common worth of Trident’s widespread inventory for any 10 consecutive buying and selling days within the prior month is beneath $11.40 per share, as decided two (2) buying and selling days previous to the final day of such month, Trident or its insiders are required to deposit $0.05 into Trident’s belief account for every public share of widespread inventory that has not redeemed in reference to the Annual Assembly.
On November 19, 2020, Trident announced a binding letter of intent to mix with Lottery.com, a number one on-line platform to play the lottery out of your cellphone, providing official state-sanctioned lottery video games within the U.S. and around the globe. The events intend to execute a definitive settlement and at present anticipate closing the enterprise mixture in first quarter of 2021.
About Trident Acquisitions Corp.
Trident is a clean examine firm shaped for the aim of coming into right into a merger, share trade, asset acquisition, inventory buy, recapitalization, reorganization or different related enterprise mixture with a number of companies or entities. Trident’s securities are quoted on the NASDAQ inventory trade beneath the ticker symbols TDACU, TDAC and TDACW. For extra info, go to tridentacquisitions.com.
Necessary Discover Relating to Ahead-Wanting Statements
This press launch incorporates statements that represent “forward-looking statements,” together with the funding of the Belief Account to increase the time frame for Trident to consummate a enterprise mixture. Ahead-looking statements are topic to quite a few circumstances, a lot of that are past the management of the Trident, together with these set forth within the Threat Elements part of Trident’s annual report on Kind 10-Okay for the 12 months ended December 31, 2019, filed with the Securities and Alternate Fee (“SEC”). Copies can be found on the SEC’s web site, www.sec.gov. Trident undertakes no obligation to replace these statements for revisions or modifications after the date of this launch, besides as required by legislation.
Trident Acquisitions Corp. and its administrators, govt officers and staff and different individuals could also be deemed to be individuals within the solicitation of proxies from the holders of Trident’s widespread inventory on the annual assembly of stockholders scheduled for November 30,2020. Details about the proposals introduced on the assembly are contained within the proxy assertion, which was beforehand mailed to stockholders, in addition to within the proxy complement to the proxy assertion. This doc might be obtained freed from cost from the sources indicated beneath.
Trident has mailed the definitive proxy assertion and a proxy card to every stockholder entitled to vote on the assembly. INVESTORS AND SECURITY HOLDERS OF TRIDENT ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE MEETING THAT TRIDENT WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TRIDENT AND THE PROPOSALS PRESENTED AT THE MEETING. The proxy assertion and some other paperwork filed by Trident with the SEC, could also be obtained freed from cost on the SEC’s web site (www.sec.gov) or at https://www.cstproxy.com/tridentacquisitions/sms2020.
Investor Relations Contact:
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