LOS
ANGELES, April 7, 2023 /PRNewswire/ -- Games &
Esports Experience Acquisition Corp. (NASDAQ: GEEX) (the "Company")
today announced that it will redeem all of the issued and
outstanding Class A ordinary shares, par value $0.0001 per share, of the Company included as
part of the units sold in the Company's initial public offering
(the "Public Shares") on or prior to April
14, 2023, because the Company's sponsor has determined that
it will not make an additional contribution to the Company's trust
account required in order to extend the April 7, 2023 deadline under the Company's
Amended and Restated Memorandum and Articles of Association (the
"Charter") for the Company to complete its initial business
combination. Following such redemption of the Public Shares, the
Company will liquidate and dissolve in accordance with the
provisions of the Charter.
In order to provide for the disbursement of funds from the
Company's trust account, the Company has instructed the trustee of
the trust account to take all necessary actions to liquidate the
securities held in the trust account. Record holders will receive
their pro rata portion of the proceeds of the trust account by
delivering their Public Shares to Continental Stock Transfer &
Trust Company, the Company's transfer agent. Beneficial owners of
Public Shares held in "street name," however, will not need to take
any action in order to receive the redemption amount. The
redemption of the Public Shares is expected to be completed by
April 14, 2023.
The Company expects that The Nasdaq Stock Market LLC will file a
Form 25 with the United States Securities and Exchange Commission
(the "Commission") to delist the Company's securities. The Company
thereafter expects to file a Form 15 with the Commission to
terminate the registration of its securities under the Securities
Exchange Act of 1934, as amended.
About Games & Esports Experience Acquisition
Corp.
Games & Esports Experience Acquisition Corp. is a blank
check company formed for the purpose of entering into a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
included in this press release are forward-looking statements. When
used in this press release, words such as "anticipate," "believe,"
"estimate," "expect," "intend" and similar expressions, as they
relate to the Company or its management team, identify
forward-looking statements. Such forward-looking statements, which
include, but are not limited to, statements regarding the per-share
redemption price and the expecting timing of the Company's
redemption of its Public Shares, delisting of the Company's
securities and the Company's liquidation and dissolution, are based
on the beliefs of management, as well as assumptions made by, and
information currently available to, the Company's management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company's filings with the Commission. All
subsequent written or oral forward-looking statements attributable
to the Company or persons acting on its behalf are qualified in
their entirety by this paragraph. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the "Risk
Factors" section of the Company's Annual Report on Form 10-K filed
with the Commission on March 31,
2023, and as may be further amended and/or supplemented in
subsequent filings with the Commission. Copies of such filings are
available on the Commission's website at www.sec.gov. The Company
undertakes no obligation to update these statements for revisions
or changes after the date of this press release, except as required
by law.
Contact
Tomi Kovanen
Games & Esports Experience Acquisition Corp.
P: (213) 266-7674
E: tomi@geexcorp.com
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SOURCE Games & Esports Experience Acquisition Corp.