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ANDA - Andina Acquisition III News Story

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Sector
Financials
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Small Cap
Market Cap £181.3m
Enterprise Value £181.1m
Revenue £n/a
Position in Universe 4336th / 6841

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

Wed 28th October, 2020 10:00am
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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 board of directors has determined to postpone
the vote by its shareholders on 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”).

As a result of such decision, the Company intends to convene and then adjourn,
without conducting any other business, the extraordinary general meeting
originally scheduled on October 28, 2020. The new meeting time and date for
shareholders to vote on the Proposed Extension will be announced separately.

In connection with the foregoing development, Andina will also extend the
deadline for holders of its ordinary shares to submit their shares for
redemption. The new deadline for redemption will be announced separately along
with the new meeting time and date. Shareholders who wish to withdraw their
redemption request may do so by requesting that the transfer agent return such
shares prior to the new meeting.

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 http://www.andinaacquisition.com/

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
www.sec.gov 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.

Non-Solicitation
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 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.

Contact

ICR
Investor Relations:
Raphael Gross, (203) 682-8253
raphael.gross@icrinc.com

Media Relations:
Cory Ziskind, (646) 277-1232
cory.ziskind@icrinc.com

Keil Decker, (646) 677-1854
keil.decker@icrinc.com



GlobeNewswire, Inc. 2020
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