08:41 AM EDT, 08/20/2024 (MT Newswires) -- Bannix Acquisition ( BNIX ) said Tuesday that its board extended the deadline for completing a merger to Sept. 14 from Aug. 14.

The blank check firm said that shareholders approved an amendment on March 8 that allowed Bannix to extend the deadline up to six times by one month each, with this latest move marking the final extension.

The sponsor, Instant Fame, will provide funding for the extension with a loan to the trust account based on the lesser of $25,000 and $0.05 per non-redeemed share, Bannix said.