Banner Acquisition Corp

Banner Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 12, 2021 and is headquartered in Lehi, UT.

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LEHI, Utah , May 4, 2023 /PRNewswire/ -- Banner Acquisition Corp. (the "Company") (NASDAQ: BNNRU, BNNR, BNNRW) today announced that it will redeem all of its outstanding shares of Class A common stock sold as part of the units in the Company's initial public offering (whether they were purchased in the initial public offering or thereafter in the open market) (the "public shares"), effective as of the close of business on or around May 16, 2023, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation (the "Charter"). Pursuant to the Charter, if the Company does not consummate an initial business combination by June 10, 2023, the Company will: (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor, redeem 100% of the public shares, at a per-share price, payable in cash, equal to the quotient obtained by dividing (A) the aggregate amount then on deposit in the Company's trust account, including interest earned on the funds held in the trust account and not previously released to the Company to pay its taxes (less up to $100,000 of such net interest to pay dissolution expenses), by (B) the total number of then-outstanding public shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company's remaining stockholders and the board of directors in accordance with applicable law, dissolve and liquidate, subject in each case to the Company's obligations under the Delaware General Corporation Law to provide for claims of creditors and other requirements of applicable law.

Banner Acquisition Corp. Announces Anticipated Redemption of Public Shares and Subsequent Dissolution

LEHI, Utah , March 7, 2023 /PRNewswire/ -- Banner Acquisition Corp., a Delaware corporation ("Banner") (NASDAQ: BNNRU, BNNR, BNNRW), announced today its intent to create, via business combination with multiple targets, a new publicly traded platform focused on the property services sector. Banner to continue seeking acquisition targets in cleaning, HVAC, plumbing, pest control, residential solar, etc.

Banner Acquisition Corp. Announces Letters of Intent for Business Combination

LEHI, Utah , Aug. 1, 2022 /PRNewswire/ -- Banner Ventures, a private equity firm focused on partnering with founder-led and family-owned businesses has announced another key addition to the team as Banner's pipeline and portfolio rapidly expand. Banner Ventures, a private equity firm focused on partnering with founder-led and family-owned companies, makes key hire Since 2020 (and including deals which will be announced later this month) Banner's principals have partnered with founders by deploying more than $130M in growth equity and buyout capital.

Banner Ventures Further Expands Investment Team as Demand for Partnership Capital Grows

News for Banner Acquisition Corp Stock (BNNR)