Banyan Acquisition Corporation Announces Intent to Adjourn Special Meeting to Approve Extension Proposal and to Move Redemption Date

Apr 17, 2023

Banyan Acquisition Corporation (NYSE: BYN.U, BYN, BYN.WS) (the “Company”), a special purpose acquisition company, announced today that it intends to adjourn, without conducting any business, the Company’s special meeting of stockholders scheduled to be held on April 18, 2023 (or any adjournment thereof) (the “Extension Meeting”), at which the Company’s stockholders will vote on, among other things, proposals to amend the Company’s amended and restated certificate of incorporation and trust agreement to extend the date by which the Company has to consummate a business combination (the “Extension Proposals”) from April 24, 2023 to December 24, 2023, as further described in the Company’s definitive proxy statement in connection with such special meeting (the “Extension Proxy Statement”), and to reconvene the Extension Meeting at 10:00 a.m., Eastern time, on April 21, 2023. The Extension Proxy Statement was mailed on or about March 31, 2023 to the Company’s stockholders of record as of March 24, 2023. In connection with the intended adjournment of the Extension Meeting, the Company is extending the deadline for holders of its shares of Class A common stock to exercise their right to redeem their shares of Class A common stock for their pro rata portions of the funds available in the Company’s trust account (the “Trust Account”) to 5:00 p.m., Eastern time, on April 19, 2023 (two business days before the adjourned Extension Meeting is to be reconvened). Any request for redemption, once made by a public stockholder, may not be withdrawn once submitted to the Company unless the Company’s board of directors determines (in its sole discretion) to permit the withdrawal of such redemption request (which they may do in whole or in part). The Extension Meeting will still be held virtually at https%3A%2F%2Fwww.cstproxy.com%2Fbanyanacquisition%2F2023.

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