Fat Projects Acquisition Corp Announces Intention To Extend The Deadline To Complete A Business Combination To December 15, 2023

Fat Projects Acquisition Corp (NASDAQ:FATPU, FATP, FATPW))))) ("FATP"), a special purpose acquisition company, announced that on November 9, 2023 it notified Continental Stock Transfer and Trust Company that it intends to extend the deadline to complete its initial business combination from November 15, 2023 to December 15, 2023 by depositing $24,279.65 into its Trust Account by November 15, 2023.  This is the eighth of up to nine 1-month extensions that FATP is authorized to obtain under its Amended and Restated Memorandum and Articles of Association, as amended.

The extension provides FATP with additional time to complete its initial business combination (the "Business Combination") with Avanseus Holdings Pte. Ltd., a Singapore private company limited by shares ("Avanseus"). As previously reported, FATP and Avanseus entered into a Business Combination Agreement dated August 26, 2022, as amended by a First Amendment to Business Combination Agreement dated October 3, 2022, a Second Amendment to Business Combination Agreement dated February 14, 2023, and a Third Amendment to Business Combination Agreement dated July 14, 2023 (collectively, the "Business Combination Agreement"), that provides for a series of transactions, pursuant to which, among other things, Avanseus' shareholders will exchange all of their outstanding Avanseus shares in consideration for newly issued FATP Class A Ordinary Shares (the "Share Exchange"), subject to the conditions set forth in the Business Combination Agreement, with Avanseus thereby becoming a wholly owned subsidiary of FATP (the Share Exchange and the other transactions contemplated by the Business Combination Agreement, together, the "Business Combination" or the "Proposed Transaction"). In connection with the Business Combination, FATP will change its corporate name to "Avanseus Holdings Corporation" ("New Avanseus").

The seventh extension described above will provide FATP and Avanseus with additional time to complete the Business Combination.