Better World Acquisition Corp. (NASDAQ:BWAC) (the “Company”) announced today that its sponsor, BWA Holdings LLC (the “Sponsor”), has deposited an additional $1,261,860 (representing $0.10 per public share) (the “Extension Payment”) into the Company’s trust account for its public stockholders. This deposit enables the Company to extend the date by which the Company has to complete its initial business combination from February 17, 2022 to May 17, 2022 (the “Extension”). The Extension is the second of two three-month extensions permitted under the Company’s governing documents.
The Sponsor loaned the Extension Payment to the Company, which loan is convertible, at the Sponsor’s discretion, into warrants identical to the warrants issued in the Company’s private placement that was consummated in connection with the Company’s initial public offering.