SPAC extends deadline with $450K affiliate loan for Xinghui merger

UY Scuti Acquisition Corp. borrowed $450,000 from Isdera HK Limited (an affiliate of the merger target Isdera Group) to fund a trust account deposit, extending its business combination deadline by three months to January 1, 2027. The transaction is routine post-merger-agreement administration with no new material terms disclosed; the actual business combination vote and deal outcome remain pending.

A SPAC borrowed money from an affiliate of the company it plans to merge with to buy extra time to complete the deal, moving the deadline from October to January.