Goldenbridge Acquisition Limited Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination

NEW YORK, May 27, 2022 (GLOBE NEWSWIRE) -- Goldenbridge Acquisition Limited (NASDAQ: GBRGU, the “Company”), a special purpose acquisition company, announced today that Auto Services Group Limited (“SunCar”), has deposited into the Company’s trust account (the “Trust Account”) an aggregate amount of $575,000 (representing approximately $0.10 per ordinary share), in order to extend the period of time the Company has to complete a business combination for an additional three (3) months period, from June 4, 2022 to September 4, 2022. The Company issued one unsecured promissory note in an amount of $575,000, to SunCar with a principal amount equal to the amount deposited. The promissory note bears no interest and is convertible into the Company’s units (with each unit consisting of one ordinary share, one warrant to purchase one-half of one ordinary share, and one right to receive one-tenth of one ordinary share upon the consummation of the Company’s initial business combination) at a price of $10.00 per unit at the closing of a business combination by the Company. The purpose of the extension is to provide additional time for the Company to complete a business combination.