8-K
filed October 12, 2023, 7:59 PM ET
CIK 0001868775
other material
confidence high
sentiment negative
materiality 0.85
ASCA shareholders approve extension to April 2024; 1.7M shares redeemed, trust ~$39.3M
ASPAC I Acquisition Corp.
- Charter amended to allow up to six monthly extensions from Oct 17, 2023 to Apr 17, 2024; net tangible asset requirement removed.
- 1,695,224 Class A ordinary shares tendered for redemption in connection with EGM vote.
- $20,000 deposited to trust to extend deadline from Oct 17 to Nov 17, 2023.
- Trust account holds ~$39.3 million after redemptions.
Key facts
Extracted from this filing and checked against the source text.
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
ASPAC I Acquisition Corp.: Amended and restated the Charter to allow up to six one-month extensions of the business combination deadline from October 17, 2023 to April 17, 2024 (effective 2023-10-09).
- Change
- charter amendment
- Effective
- 2023-10-09
Exact text from the filing
On October 9, 2023, following shareholder approval, the Company filed the Amended and Restated Memorandum and Articles of Association with the British Virgin Islands Registrar of Corporate Affairs on the same day. The New Charter allows the Company the right to extend the date by which it has to complete a business combination up to six (6) times for an additional one month each time, from October 17, 2023 to April 17, 2024
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
ASPAC I Acquisition Corp.: Removed the net tangible asset requirement from the Charter to expand methods to avoid penny stock rules (effective 2023-10-09).
- Change
- charter amendment
- Effective
- 2023-10-09
Exact text from the filing
removed the net tangible asset requirement in order to expand the methods that the Company may employ so as not to become subject to the "penny stock" rules of the Securities and Exchange Commission
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
ASPAC I Acquisition Corp. shareholders approved The NTA Requirement Amendment Proposal at the 2023-10-09 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-10-09
Exact text from the filing
At the EGM on October 9, 2023, the Company’s shareholders approved the Charter Amendment Proposal and the NTA Requirement Amendment Proposal. The voting results were as follows: 1. The Charter Amendment Proposal FOR AGAINST ABSTAIN BROKER NON-VOTES 4,474,959 240,106 0 0 2. The NTA Requirement Amendment Proposal FOR AGAINST ABSTAIN BROKER NON-VOTES 4,491,870 223,195 0 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
ASPAC I Acquisition Corp. shareholders approved The Charter Amendment Proposal at the 2023-10-09 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-10-09
Exact text from the filing
At the EGM on October 9, 2023, the Company’s shareholders approved the Charter Amendment Proposal and the NTA Requirement Amendment Proposal. The voting results were as follows: 1. The Charter Amendment Proposal FOR AGAINST ABSTAIN BROKER NON-VOTES 4,474,959 240,106 0 0 2. The NTA Requirement Amendment Proposal FOR AGAINST ABSTAIN BROKER NON-VOTES 4,491,870 223,195 0 0
View on SEC.gov
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