Benzinga | Aug 23, 2021 10:10AM EDT

East Stone Acquisition Corp. Reports Its Sponsor, Double Venture Holdings, Requested Co. Extend Date For Consummation Of Business Combo Deal From Aug. 24, 2021 To Nov. 24, 2021

East Stone Acquisition Corporation (NASDAQ:ESSCU), a publicly traded special purpose acquisition company ("East Stone"), announced today that its sponsor, Double Venture Holdings Limited (the "Sponsor"), has requested that East Stone extend the date by which East Stone has to consummate a business combination from August 24, 2021 to November 24, 2021 (the "Extension"). The Extension is the second of up to two three-month extensions permitted under East Stone's governing documents. In connection with such Extension, the Sponsor has notified East Stone that it intends to cause an aggregate of $1,380,000 to be deposited into East Stone's trust account on or before August 24, 2021. The Extension provides East Stone with additional time to complete its proposed business combination with JHD Holdings (Cayman) Limited ("JHD"), an innovative merchant enablement platform serving lower-tier cities in China.