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PHP Ventures Acquisition Corp. (formerly NASDAQ:PPHPU) announced Monday that it has deposited $4,770.70 into its trust account to extend the deadline for completing an initial business combination by one month, moving the date from November 16, 2025, to December 16, 2025.
The company, which is incorporated in Delaware and headquartered in New York, stated in a press release that the deposit allows it additional time to pursue a potential business combination. PHP Ventures Acquisition Corp. was suspended from trading on Nasdaq on April 19, 2024, and a Form 25 was filed on June 28, 2024, removing its securities from listing and registration on the exchange.
The extension is in line with the company’s structure as a blank check company, which typically seeks to merge with or acquire another business within a specified timeframe. The deposit into the trust account is intended to benefit public stockholders by enabling the extension.
This information is based on a statement included in the company’s recent SEC filing.
In other recent news, ON Semiconductor Corporation has announced it will incur between $200 million and $300 million in asset impairment and accelerated depreciation charges. These charges are part of the company’s ongoing efforts to restructure and reduce costs, aligning its manufacturing capabilities with future needs. Additionally, ON Semiconductor ’s chair, Alan Campbell, plans to retire in 2026, with no disagreements cited regarding company operations. Analyst activities have also been notable, with Piper Sandler lowering its price target for ON Semiconductor to $55, citing industry-wide lower multiples, while Truist Securities raised its target to $51, maintaining a Hold rating. Meanwhile, Ascendis Pharma A/S granted 41,220 employee warrants at an exercise price of $201.16 per share. These warrants will vest over four years, contingent on continued employment, with provisions for earlier vesting in certain exit events.
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