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LONDON - MobilityOne Limited (AIM: MBO), a provider of e-commerce infrastructure payment solutions and platforms, has announced an extension for completing its proposed joint venture with Super Apps. According to a Form 8-K report filed by Technology & Telecommunication Acquisition Corporation (TETE) on January 24, 2025, and available on the SEC website, the deadline to finalize the Merger Exercise has been moved from January 20, 2025, to April 20, 2025.
The extension comes after TETE's shareholders approved a Charter Amendment, which was subsequently filed with the Registrar of Companies in the Cayman Islands on January 20, 2025. This amendment grants TETE the right to extend the deadline to consummate a business combination by an additional three months, up to 39 months following TETE's initial public offering.
The filing indicates that the extension is a part of the ongoing process to finalize the business combination between MobilityOne and Super Apps. The joint venture is expected to leverage MobilityOne's expertise in payment solutions with Super Apps' technological capabilities, although specific details of the venture's objectives and potential impact on both companies' operations remain undisclosed at this time.
MobilityOne has stated that further announcements will be made as necessary. This development is part of a series of steps both companies are undertaking to complete their merger exercise, which has been in the public domain since the initial announcement on October 19, 2022.
The news of the extension is a key update for investors and market watchers, who are monitoring the progress of this strategic alliance. It is important to note that the information regarding the extension is based on a press release statement from MobilityOne and the TETE Filing with the SEC. As the situation evolves, additional details are expected to emerge, providing a clearer picture of the future direction of the MobilityOne and Super Apps partnership.
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