Bukit Jalil Global Acquisition 1 Extends Business Combination Deadline by a Month

On January 27, 2025, Bukit Jalil Global Acquisition 1 Ltd. (NASDAQ: BUJAU), a Cayman Islands exempted company, deposited $100,000 into the Trust Account to extend the period for completing its initial business combination. This extension moves the deadline from January 30, 2025, to February 28, 2025, as per the company’s Charter.

To facilitate this extension, the company issued an unsecured promissory note of $100,000 to its sponsor, Bukit Jalil Global Investment Ltd. The note, due upon the completion of the business combination or the company’s term expiration, carries no interest. In the event of default, terms for acceleration include non-payment or breaches of the company’s obligations.

The sponsor, as the payee, has the option to convert the note into private units of the company, comprising one Ordinary Share, one-half of one warrant, and one right upon business combination completion. The conversion ratio is based on $10 per share, with details outlined in the company’s prospectus (File No: 333-272605).

The issuance of the note falls under the exemption from registration in Section 4(a)(2) of the Securities Act of 1933. A copy of the Note is available as Exhibit 10.1 in the Current Report on Form 8-K for further reference.

This development is outlined in compliance with Item 1.01, Entry into a Material Definitive Agreement, and Item 2.03, Creation of a Direct Financial Obligation or an Off-Balance Sheet Arrangement of a Registrant, of the company’s filing. Furthermore, the unregistered sales of equity securities associated with this note are detailed in Item 3.02 of the same filing.

Investors are encouraged to refer to the complete documentation for a comprehensive understanding of this financial arrangement, available under Item 9.01 – Financial Statements and Exhibits of the report issued on January 27, 2025.

This Current Report on Form 8-K has been authorized and duly signed by Seck Chyn “Neil” Foo, the Director and Chief Executive Officer of Bukit Jalil Global Acquisition 1 Ltd.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Bukit Jalil Global Acquisition 1’s 8K filing here.

About Bukit Jalil Global Acquisition 1

Bukit Jalil Global Acquisition 1 Ltd operates a blank check company that intends to effect into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2022 and is based in Kuala Lumpur, Malaysia.