99 Acquisition Group, Inc. intends to liquidate

GAITHERSBURG, MD, Sept. 11, 2024 (GLOBE NEWSWIRE) — 99 Acquisition Group, Inc. (Nasdaq: NNAG) (the “Company”) announced that it will be unable to complete its previously announced business combination with Nava Health MD, Inc. As a result, the Company intends to dissolve and liquidate on or about September 13, 2024. The Company will repurchase all of the outstanding public common shares (the “Public Shares”) at an expected redemption price per share of approximately $10.55.

After the close of trading on September 13, 2024, the public shares will be deemed canceled and will represent only the right to receive the expected redemption price per share.

In order to ensure the payment of funds from the trust account, the Company has directed the trustee of the trust account to take all necessary actions to liquidate the securities held in the trust account. The proceeds from the trust account will be held in a non-interest bearing account pending payment to holders of Public Shares. Holders of subscriptions will receive a proportionate share of the proceeds from the trust account by delivering their Public Shares to Continental Stock Transfer & Trust Company, the transfer agent of the Company. However, beneficiaries of public shares held “in their name” will not be required to take any action to receive the expected redemption price per share.

Forecast statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Some of these forward-looking statements can be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,” “assumes,” “may,” “should,” “will,” “seeks” or other similar expressions. Such statements may include, but are not limited to, statements regarding the Company’s intention to repurchase all of its outstanding Public Shares, the Company’s cash position or cash held in the Company’s custodial account, the expected repurchase price per share or the time at which the Company’s Public Shares will cease trading on Nasdaq. These statements are based on current expectations as of the date of this press release and involve a number of risks and uncertainties that could cause actual results to differ materially. The Company does not undertake any obligation to update or revise such forward-looking statements, whether as a result of new events or otherwise. Readers are cautioned not to place undue reliance on forward-looking statements.

Continental Information:

99 Acquisition Group, Inc.
Hiren Patel, CEO
Phone: 703-371-4260
E-mail address: [email protected]