Brookline Capital Acquisition Corp. Confirms Receipt Of Sponsor Funds To Extend Period Of Time To Consummate Business Combination And For Additional Working Capital

Brookline Capital Acquisition Corp. (“BCAC”) (NASDAQ:BCAC), a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, today announced that Brookline Capital Holdings, LLC, BCAC’s Sponsor, has deposited into the BCAC trust account (the “Trust Account”) an additional $167,032.54, representing $0.033 per public share. In consideration for the deposit, BCAC has issued to our Sponsor an amended unsecured interest free promissory note for the principal amount of the aggregate of such deposit, together with similar deposits made on May 2, 2022 and June 2, 2022, which will be repaid in connection with the closing of BCAC’s previously announced business combination. As a result of the deposits into the Trust Account, the period of time that BCAC has to complete the previously announced proposed transaction with Apexigen Inc. has been extended by a month to August 2, 2022 (and may be extended thereafter on a monthly basis for up to an aggregate of six months to November 2, 2022 upon payment of a monthly fee equal to $0.033 for each public share not redeemed).