Bite Acquisition Corp. Announces Amendment and Supplement to Definitive Proxy Statement

NEW YORK, Dec. 5, 2022 /PRNewswire/ -- Bite Acquisition Corp. (NYSE: BITE.U, BITE, BITE.WS) (the "Company") today announced that it will amend and supplement its definitive proxy statement on Schedule 14A initially filed with the U.S. Securities and Exchange Commission on November 23, 2022 in connection with the special meeting of the stockholders of the Company to be held on December 15, 2022 (the "Special Meeting"). The Company has determined to modify the terms of the potential Extension (as defined in the definitive proxy statement) to provide that the amount of the Extension Payment (as defined in the definitive proxy statement) would be an amount determined by multiplying $0.05 by the number of public shares outstanding following any redemptions of public shares effected in connection with the Special Meeting, up to a maximum of $150,000, instead of the fixed amount of $250,000 per month described in the definitive proxy statement. Accordingly, the Company is voluntarily amending and supplementing the definitive proxy statement to amend and clarify, among other things, the Extension Charter Amendment Proposal (as defined in the definitive proxy statement) such that the extension of the date by which the Company has to consummate an initial business combination from February 17, 2023 to August 17, 2023 on a monthly basis for up to six times, is subject to the deposit of Smart Dine, LLC (the "sponsor") (or its affiliates or permitted designees) into the trust account an amount determined by multiplying $0.05 by the number of public shares then outstanding, up to a maximum of $150,000 for each such one-month extension unless the closing of the Company's initial business combination shall have occurred, in exchange for a non-interest bearing, unsecured promissory note payable upon consummation of a business combination.