Altitude Acquisition Corp. Announces Extension Of Deadline To Complete Initial Business Combination To December 11, 2023

Altitude Acquisition Corp. (NASDAQ:ALTUU, ALTU, ALTUW))))) ("Altitude"), announced today that its board of directors (the "Board"), upon request by Altitude's sponsor, Altitude Acquisition Holdco LLC (the "Sponsor"), has extended the date by which Altitude must consummate an initial business combination (the "Deadline Date") for an additional month, from November 11, 2023 to December 11, 2023.

 

Altitude's Amended and Restated Certificate of Incorporation, as amended (the "Charter"), gives the Board the right to extend the Deadline Date, without further stockholder vote, up to eight times for an additional one month each time (each, an "Extension"), from April 11, 2023 to up to December 11, 2023. On November 3, 2023, pursuant to the Charter and upon request from the Sponsor, the Board determined to implement an eighth Extension.

As previously announced, on April 23, 2023, Altitude entered into a business combination agreement (the "Business Combination Agreement") with Picard Medical, Inc. ("Picard") and the other parties thereto, which provides for a business combination between Altitude and Picard. The purpose of this monthly Extension is to provide Altitude with additional time to consummate the proposed business combination with Picard.