TradeUP Acquisition Corp. (NASDAQ: UPTD) today announced that, in order to extend the date by which the Company must complete its initial business combination from March 19, 2023 to April 19, 2023, for each public share that is not redeemed by the Company’s stockholders in connection with such extension, the Company has deposited into its trust account an aggregate of $45,511.00, representing $0.05 per public share of the Company.
The payment for such Monthly Extension Fee was made by Estrella Biopharma, Inc., a Delaware corporation, pursuant to the Agreement and Plan of Merger, entered by and among the Company, Tradeup Merger Sub Inc., a Delaware corporation and direct and wholly owned subsidiary of UPTD, and Estrella on September 30, 2022.
Pursuant to the Company’s current Charter, the Company may extend on monthly basis from January 19, 2023 until July 19, 2023 or such an earlier date as may be determined by its board to complete a business combination by depositing the Monthly Extension Fee for each month into the Trust Account.
About TradeUP
TradeUP Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. TradeUP was incorporated under the laws of the State of Delaware on January 6, 2021.
About Estrella
Estrella, a Delaware corporation, is a preclinical-stage biopharmaceutical company developing CD19 and CD22-targeted ARTEMIS®️ T-cell therapies with the capacity to address treatment challenges for patients with blood cancers and solid tumors. Estrella’s mission is to harness the evolutionary power of the human immune system to transform the lives of patients fighting cancer.
