--- schema_version: "secwatch.filing_event.v1" accession: "0000950170-24-045315" form_type: "8-K" ticker: null cik: "0001852061" company_name: "Generation Asia I Acquisition Ltd" filed_at: "2024-04-18T23:59:59+00:00" generated_at: "2026-06-03T19:31:27.570763+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # GAQ shareholders approve extension to July 2025; ~69% of public shares redeemed for ~$59.8M ## Summary - Shareholders approved extension of business combination deadline from July 23, 2024 to July 23, 2025 via monthly $35k deposits. - Sponsor's monthly extension payment reduced to $35k (from lesser of $125k or $0.03/share). - 5,342,374 Class A shares redeemed (~69% of IPO shares), withdrawing ~$59.8M from trust. - Following redemptions, only 2,357,355 Class A shares remain outstanding. - 2,422,500 Class B shares converted to Class A; 5,060,000 Class B shares remain outstanding. ## SEC filing metadata - accession: 0000950170-24-045315 - form_type: 8-K - cik: 0001852061 - company_name: Generation Asia I Acquisition Ltd - filed_at: 2024-04-18T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 1.01, 5.03, 5.07, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/0000950170-24-045315-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/gaq-20240416.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000950170-24-045315 - JSON: https://secwatch.observer/filing/0000950170-24-045315.json - Plain text: https://secwatch.observer/filing/0000950170-24-045315.txt ## Key facts - Governance Changes Generation Asia I Acquisition Ltd: Extended business combination deadline to July 23, 2025 and reduced monthly extension payments to $35,000 (effective 2024-04-16). - Change: charter amendment - Effective: 2024-04-16 source text: At the Meeting on April 16, 2024, the Company’s shareholders approved by special resolutions the amendments to the Company’s Amended and Restated Memorandum and Articles of Association of the Company (collectively, the “ Articles Amendments ”), to, among other things, do the following: (a) to extend the date by which the Company must consummate an initial business combination from July 23, 2024 to July 23, 2025; and (b) to reduce the amount of monthly extension payments which the Company’s sponsor, Generation Asia LLC, or its affiliates or designees, must deposit into the trust account of the Company from an amount equal to the lesser of (x) $125,000 or (y) $0.03 per public share multiplied by the number of public shares outstanding at that time for each one-month extension of the date by which the Company has to consummate an initial business combination, to an amount equal to $35,000 for each one-month extension of the date by which the Company has to consummate an initial business c evidence_url: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/0000950170-24-045315-index.htm - Material Agreements Generation Asia I Acquisition Ltd amended IMTA Amendment with Continental Stock Transfer & Trust Company valued at $35,000 (effective 2024-04-16). - Action: amendment - Counterparty: Continental Stock Transfer & Trust Company - Value: $35,000 - Effective: 2024-04-16 source text: by depositing into the trust account an amount equal to $35,000 for each one-month extension of the date by which the Company has to consummate a business combination effective immediately, as described in more detail in the definitive proxy statement on Form DEF 14A as filed with the SEC on March 29, 2024. Following such approval by the Company’s stockholders, the Company and CST entered into the IMTA Amendment on April 16, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/0000950170-24-045315-index.htm - Shareholder Votes Generation Asia I Acquisition Ltd shareholders approved Extension Amendment Proposal at the 2024-07-23 meeting. - Outcome: passed - Meeting: 2024-07-23 source text: (1) The Extension Amendment Proposal : a proposal to amend, by way of special resolution, the Company’s amended and restated memorandum and articles of association as provided by the first special resolution in the form set forth in Annex A to the proxy statement, (a) to extend the date by which the Company must consummate an initial business combination from July 23, 2024 to July 23, 2025, and (b) to reduce the amount of monthly extension payments which the Company’s sponsor, Generation Asia LLC, or its affiliates or designees, must deposit into the trust account of the Company from an amount equal to the lesser of (x) $125,000 or (y) $0.03 per public share multiplied by the number of public shares outstanding at that time for each one-month extension of the date by which the Company has to consummate an initial business combination, to an amount equal to $35,000 for each one-month extension of the date by which the Company has to consummate an initial business combination, which date evidence_url: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/0000950170-24-045315-index.htm - Shareholder Votes Generation Asia I Acquisition Ltd shareholders approved Trust Amendment Proposal at the 2024-07-23 meeting. - Outcome: passed - Meeting: 2024-07-23 source text: (2) The Trust Amendment Proposal : a proposal to amend, by way of ordinary resolution, by the affirmative vote of at least 65% of the votes of the then outstanding Class A Ordinary Shares and Class B Ordinary Shares, voting together as a single class, the Company’s Investment Management Trust Agreement dated as of January 19, 2022 as amended to date, in the form set forth in Annex B to the proxy statement to, among other things, change the date by which the Company must consummate an initial business combination from July 23, 2024 to the monthly extended date or July 23, 2025, as the case may be, and amend other provisions of the Investment Management Trust Agreement related thereto (the “ Trust Amendment Proposal ” and together with the Extension Amendment Proposal, the “ Proposals ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1852061/000095017024045315/0000950170-24-045315-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.