SCOTTSDALE, Ariz. and NEW YORK, Jan. 05, 2024 (GLOBE NEWSWIRE) — Revelstone Capital Acquisition Corp. (the “ Company †or “ RCAC â€) (NASDAQ: RCAC), a publicly traded special purpose acquisition company, today announced that it has cancelled the meeting that was scheduled for Friday, January 5, 2024 at 1:00 p.m. EST, and to withdraw from consideration by the stockholders of the Company the proposals set forth in the Companyâ€
The conditions to closing of the Business Combination, as described in the Proxy Statement/Prospectus, have not yet been satisfied. The parties are working together to expeditiously satisfy such closing conditions, including obtaining the approval of Nasdaq to list the post-combination companyâ€
The Company plans to reschedule the meeting for stockholders to approve the Business Combination (the “ Special Meeting â€) at a time and date to be determined once a new record date has been established for stockholders of record on such date (the “ Record Date â€) to vote upon proposals to approve the Business Combination and related matters. Proxy materials containing the new time and date for the Special Meeting, the new redemption deadline date, the proposals to approve the Business Combination and related matters, will then be sent to stockholders of record as of the Record Date.
About Set Jet, Inc.
Set Jet, Inc. is a membership-driven technology company facilitating luxurious “buy a seat, not the jet†private jet charters for its Members to enjoy the ultimate travel experience at a fraction of the cost of a typical private jet charter. Set Jetâ€
About Revelstone Capital Acquisition Corp.
Revelstone Capital Acquisition Corp. is a blank check company whose business purpose is to affect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. The Company is led by its Co-Chief Executive Officers, Morgan Callagy and Daniel Neukomm. For more information please visit: http://revelstonecapital.com/.
Important Information About the Proposed Business Combination and Where to Find It
In connection with the proposed Business Combination, RCAC has filed a proxy statement/prospectus with the SEC. The definitive proxy statement/prospectus and other relevant documents will be sent or given to the stockholders of RCAC as of the Record Date and will contain important information about the proposed Business Combination and related matters. Stockholders of RCAC and other interested persons are advised to read the definitive proxy statement/prospectus and any amendments thereto, in connection with the meeting of stockholders to be held to approve, among other things, the proposed Business Combination because the proxy statement will contain important information about RCAC, Set Jet and the proposed Business Combination. The definitive proxy statement/prospectus is expected to be mailed to RCAC stockholders of record as of a new record date to be determined, in order to vote on the proposed Business Combination. Stockholders will also be able to obtain copies of the proxy statement/prospectus, without charge, at the SECâ€
Participants in the Solicitation
RCAC, Set Jet, and their respective directors and officers may be deemed to be participants in the solicitation of proxies from RCACsâ€
Important Cautions Regarding Forward-Looking Statements
The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,†“may,†“will,†“estimate,†“continue,†“anticipate,†“intend,†“expect,†“should,†“would,†“plan,†“project,†“forecast,†“predict,†“potential,†“seem,†“seek,†“future,†“outlook,†and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding estimates and forecasts of other financial, performance and operational metrics and projections of market opportunity; (2) references with respect to the anticipated benefits of the proposed Business Combination and the projected future financial performance of Set Jet following the proposed Business Combination; (3) changes in the market for Set Jetâ€
No Offer or Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of RCAC, the Company or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.
Contacts
Revelstone Capital Acquisition Corp
Morgan Callagy
Co-Chief Executive Officer
14350 Myford Road
Irvine, CA 92606
morgan@revelstonecap.com
949.428.2888
Set Jet Investor Relations
Shannon Devine
MZ North America
SetJet@mzgroup.us
203.741.8811
Set Jet Media
Olivia Jones
Director of Marketing
marketing@setjet.com
480.264.6500
Source: Set Jet, Revelstone Capital Acquisition Corp.
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