Western Acquisition Ventures Corp.(NASDAQ:WAVS) ("Western," "the Company"), a special purpose acquisition company, today announced that at a special meeting of its stockholders held January 6th, stockholders approved an extension to the time period that the Company has to consummate its business combination. The extension was approved for a one-month period up to six times, and the Company now has until July 11, 2023, to complete the transaction.
In connection with the extension, Western amended the Company's charter and is now expected to deposit into the Trust Account of the Company $10,000 for each one-month extension up to an aggregate $60,000.
On November 22, 2022, Western entered into a definitive business combination agreement with Cycurion, a technology-enabled cybersecurity company. The transaction is expected to be completed in the first half of 2023. Upon the transaction's closing, the combined company will be named Cycurion, Inc. and will be listed on NASDAQ.