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NEW YORK, May 10, 2021 /PRNewswire/ -- GX Acquisition Corp. ("GX") (NASDAQ: GXGX), a publicly-traded special purpose acquisition company, today reaffirmed its intention to support the proposal to amend GX's amended and restated certificate of incorporation to extend the date by which GX must complete its initial business combination from May 23, 2021 to July 31, 2021 (the "Extension" and such later date, the "Extended Date"). This proposal will be voted on by stockholders at the upcoming special meeting of stockholders on May 14, 2021. The Extension will allow GX until the Extended Date to complete its initial business combination.
In order to support this proposal, GX has agreed that, if the Extension is approved, GX will deposit into the trust account $0.025 per share for each month of the Extension period, pro-rated for partial months during the Extension period, resulting in a maximum contribution of $0.0565 per share of Class A common stock that is not redeemed in connection with the special meeting (the "Maximum Contribution"). This contribution will be funded as follows: on (or prior to) May 23, 2021, GX will deposit into the trust account an amount equal to $0.0315 per share of Class A common stock not redeemed in connection with the special meeting and on (or prior to) July 1, 2021, GX will deposit into the trust account an amount equal to $0.025 per share of Class A Common stock not redeemed in connection with the special meeting, provided that, no such deposits will be made following the completion of GX's previously announced business combination with Celularity Inc. ("Celularity"), an allogeneic cellular therapy company (the "Celularity Business Combination").