Newcourt Acquisition Corp Announces Continuation of Business Combination Close Process
NEW YORK, NY, Jan. 22, 2024 (GLOBE NEWSWIRE) — Newcourt Acquisition Corp (“Newcourt”) (NASDAQ:NCAC) announced today that the conditions to closing the business combination (the “Business Combination”) pursuant to the Amended and Restated Business Combination Agreement, dated July 31, 2023 (as amended, supplemented, or otherwise modified from time to time, the “Amended and Restated Business Combination Agreement”), by and among Newcourt, Newcourt SPAC Sponsor LLC, Psyence Group Inc. (CSE: PSYG) (“Psyence”), Psyence Biomedical Ltd., a corporation organized under the laws of Ontario, Canada (“Pubco”), Psyence (Cayman) Merger Sub, Psyence Biomed Corp., and Psyence Biomed II Corp. have not yet been satisfied and the business combination has not closed. The parties are working together to expeditiously satisfy such closing conditions, including obtaining the approval of Nasdaq to list Pubco’s ordinary shares following the closing of the business combination. On January 22, 2024, Newcourt’s shareholders approved to extend the date by which Newcourt must consummate its initial business combination from January 22, 2024 to February 22, 2024. There can be no assurance that the business combination will be consummated by February 22, 2024.