Atlantic Coastal Acquisition Corp. II Announces Extension of Business Combination Period and Additional Contribution to Trust Account
NEW YORK, Oct. 18, 2023 /PRNewswire/ — Atlantic Coastal Acquisition Corp. II (NASDAQ: ACAB) (the “Company”), a special purpose acquisition corporation, announced that Atlantic Coastal Acquisition Management II LLC, the Company’s initial public offering sponsor (the “Sponsor”), has deposited $80,000 into the Company’s trust account (the “Trust Account) in order to extend the period of time that the Company has to complete a business combination for an additional one (1) month period, from October 19, 2023 to November 19, 2023. In exchange for the Sponsor’s additional contribution to the Trust Account, the Company issued a convertible promissory note to the Sponsor in an aggregate principal amount of $80,000. The purpose of the extension is to provide additional time for the Company to complete a business combination.