Plutonian Acquisition’s Merger Partner Loans SPAC $210K to Cover Extension Period

Plutonian Acquisition announced today that merger partner Big Tree Cloud International Group has deposited $210,000 into the SPAC's trust account. The amount covers required deposits to extend the SPAC's completion deadline from today to Feb. 15, 2024.

Plutonian issued a promissory note to Big Tree Cloud. The convertible note can be used to acquire the SPAC's stock at $10 per unit at the closing of the business combination.

The $500 million deal was announced last month.

Plutonian raised $57.5 million in an a year ago.

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's Merger Partner Loans SPAC 0K to Cover Extension Period