Plutonian Acquisition Buys 3 More Months with $210K from its Merger Partner

Plutonian Acquisition announced today that Big Tree Cloud International Group deposited $210,000 into the SPAC's trust to extend the deal deadline from Feb. 15 to May 15. Plutonian issued a promissory note to Big Tree Cloud with a principal amount equal to the deposit. The promissory note bears no interest and is convertible into the company's stock at $10 per unit.

Big Tree Cloud had deposited the same amount last November for a three-month extension.

The $500 million deal was announced in October.

Plutonian raised $57.5 million in a November 2022 .

Founded in 2020, the is engaged in the development, production and sales of personal care products and other consumer goods in . Big Tree Cloud's product portfolio emphasizes feminine hygiene products. Read more.

Source: Plutonian Acquisition Buys 3 More Months with 0K from its Merger Partner