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ANDA - Andina Acquisition III News Story

$10.25 -0.0  -0.1%

Last Trade - 16/04/21

Small Cap
Market Cap £180.1m
Enterprise Value £179.9m
Revenue £n/a
Position in Universe 4332nd / 6850

Andina Acquisition Corp. III Announces Adjournment of the Extraordinary General Meeting of Shareholders for Approving an Extension of the Deadline Related to Consummating its Initial Business Combination

Wed 28th October, 2020 2:45pm
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NEW YORK, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Andina Acquisition Corp. III
(NASDAQ: ANDA, ANDAW, and ANDAU) (“Andina” or the “Company”) today
announced that the Company’s shareholders have voted to adjourn the meeting
for the consideration of extending the date by which Andina must consummate a
business combination from October 31, 2020 (or December 31, 2020 if Andina has
executed a definitive agreement for a business combination by October 31,
2020) to January 31, 2021 (or April 30, 2021 if Andina has executed a
definitive agreement for a business combination by January 31, 2021) (the
“Proposed Extension”) to a later date or dates to be determined by the
Company’s board of directors. Upon shareholders’ approval of the
adjournment, the Company’s board of directors has determined to adjourn the
extraordinary general meeting of its shareholders to vote on the Proposed
Extension to 4:00 p.m. Eastern Time on Friday, October 30, 2020.

The record date for the shareholders meeting to vote on the Proposed Extension
remains the close of business on September 28, 2020 (the “Record Date”).
Shareholders who have previously submitted their proxy or otherwise voted and
who do not want to change their vote need not take any action. Shareholders as
of the Record Date can vote, even if they have subsequently sold their shares.

In connection with the foregoing developments, Andina has extended the
deadline for holders of its ordinary shares to submit their shares for
redemption in connection with the Proposed Extension to 5:00 p.m. Eastern Time
on Wednesday, October 28, 2020. Shareholders who wish to withdraw their
previously submitted redemption request may do so prior to the rescheduled
meeting by requesting that the transfer agent return such shares.

About Andina Acquisition Corp. III
Andina Acquisition Corp. III (NASDAQ: ANDA, ANDAW, and ANDAU) is a blank check
company for the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or similar
business combination with one or more businesses or entities. For information
about Andina, please visit

Additional Information and Where to Find It
Andina urges investors, stockholders and other interested persons to read,
when available, the definitive proxy statement filed on October 8, 2020 (the
“Extension Proxy Statement”), as well as other documents filed by Andina
with the Securities and Exchange Commission (the “SEC”), because these
documents will contain important information about Andina and the Proposed
Extension. The definitive proxy statement for the Proposed Extension was also
mailed to shareholders of Andina as of a record date of September 28, 2020 on
or about October 9, 2020. Shareholders may obtain copies of the proxy
statement, when available, without charge, at the SEC’s website at or by directing a request to: Andina Acquisition Corp. III, Calle
113 #7-45 Torre B, Oficinia 1012, Bogota, Colombia.

Participants in Solicitation
Andina and its directors, executive officers and other members of their
management and employees may be deemed to be participants in the solicitation
of proxies of Andina shareholders in connection with the Proposed Extension.
Investors and security holders may obtain more detailed information regarding
the names, affiliations and interests of Andina’s directors and Officers in
the Extension Proxy Statement, which may be obtained free of charge from the
sources indicated above.

This press release is not a proxy statement or solicitation of a proxy,
consent or authorization with respect to any securities or in respect of the
Proposed Extension and shall not constitute an offer to sell or a solicitation
of an offer to buy the securities of Andina, nor shall there be any sale of
any such securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of such state or jurisdiction. No offer of
securities shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as amended.

Forward Looking Statements
This press release includes forward-looking statements that involve risks and
uncertainties. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements are subject to risks and
uncertainties, which could cause actual results to differ from the
forward-looking statements. These forward-looking statements and factors that
may cause such differences include, without limitation, uncertainties relating
to Andina’s shareholder approval of the Proposed Extension, Andina’s
inability to enter into a definitive agreement with respect to a business
combination transaction or to complete the transactions by the deadline set
forth under its amended and restated memorandum and articles of incorporation
and other risks and uncertainties indicated from time to time in filings with
the SEC, including Andina’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2019 under the heading “Risk Factors” and other
documents Andina has filed, or to be filed, with the SEC. Readers are
cautioned not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Andina expressly disclaims any
obligations or undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change in
Andina’s expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.


Investor Relations:
Raphael Gross, (203) 682-8253

Media Relations:
Cory Ziskind, (646) 277-1232

Keil Decker, (646) 677-1854

GlobeNewswire, Inc. 2020
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