UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
Current Report
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Item 8.01. Other Events
On December 26, 2024 Bannix Acquisition Corp. (the “Company”) entered into several agreements to defer certain transaction costs and obligations associated with its potential business combination totaling approximately $2,950,000 until after the closing of the proposed transaction between the Company and VisionWave Technologies Inc. (the “Business Combination”). The deferred obligations include amounts due or to become due at closing, with payment schedules outlined below:
| ● | Bannix has deferred estimated transaction costs of approximately $300,000 related to legal and financial advisory services provided in connection with the business combination. These costs will be payable no later than three (3) months following the closing of the Business Combination. |
| ● | Evie Autonomous Ltd. (“Evie”) holds a consolidated promissory note in the amount of $1,003,995 issued by the Company. Under the deferment agreement, payment of this note has been deferred and is payable within four (4) months following the closing of the Business Combination. |
| ● | An aggregate amount of $1,346,643 owed to the Sponsor and its affiliates, including promissory notes, administrative support fees, and advances, has been deferred. Payment will be made from working capital and is due no later than December 12, 2025. |
All deferred payments will be made exclusively from the working capital of the post-closing entity or funds raised following the closing. These deferments provide the Company with the financial flexibility to focus on completing the transaction while ensuring that all obligations are met within the agreed timeframes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: January 3, 2025 | ||
| BANNIX ACQUISITION CORP. | ||
| By: | /s/ Douglas Davis | |
| Name: | Douglas Davis | |
| Title: | Chief Executive Officer | |