Relativity Acquisition Corp. Announces Funding and Extension of Deadline to Complete Business Combination

New York, NY, Aug. 07, 2023 (GLOBE NEWSWIRE) --  Relativity Acquisition Corp. (“Relativity”) (Nasdaq: RACY) announced today that it had extended the date by which it has to consummate a business combination from August 15, 2023 to November 15, 2023 (the “Extension”). The Extension is the first of two three-month extensions permitted under Relativity’s governing documents. In accordance with Relativity Acquisition Sponsor LLC’s request and with the Relativity’s governing documents, an aggregate amount of $1,000.00 from Relativity’s working capital was deposited into its trust account for its public stockholders on August 3, 2023. The Extension provides Relativity with additional time to complete its business combination.

As previously announced on February 13, 2023, SVES LLC, SVES GO, LLC, SVES CP LLC and SVES Apparel LLC (collectively, “SVES” or the “Company”), an off-price apparel distribution company based in Florida, and Relativity, a special purpose acquisition company, announced they had entered into a definitive business combination agreement. Upon closing of the proposed transaction, the combined company (the “Combined Company”) will operate under the name “SVES, Inc.” and intends to apply to be listed on Nasdaq Stock Exchange under the new ticker symbol “SVES.”

About SVES

SVES LLC, SVES GO, LLC, SVES CP LLC and SVES Apparel LLC (collectively, “SVES”) is a leading wholesale distributor of discount and off-price fashion. SVES delivers differentiated garment and accessory assortments to major off-price retailers in North America and Europe. The SVES management team is led by off-price industry veterans, including Co-Founders Timothy J. Fullum and Salomon Murciano.

About Relativity Acquisition Corp.

Relativity Acquisition Corp. is a blank check company sponsored by Relativity Acquisition Sponsor LLC, a Delaware limited liability company, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The management team and board of directors are composed of veteran cannabis and finance industry executives, led by Founder, Chairman and CEO Tarek Tabsh.