8-K
filed January 12, 2023, 6:59 PM ET
ticker CYCU
CIK 0001868419
other material
confidence high
sentiment negative
materiality 0.85
Western Acquisition Ventures extends deadline to July 2023; 10.7M shares redeemed, trust drops to $7.9M
Cycurion, Inc.
- Stockholders approved charter amendment to extend business combination deadline by up to six months to July 11, 2023, with $10,000 monthly deposits.
- 10,729,779 shares redeemed (~73% of pre-redemption shares) in connection with the extension vote.
- Trust account now holds approximately $7.865 million, with 4,021,221 shares outstanding.
- Pro rata portion of trust funds is approximately $10.21 per public share.
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
Cycurion, Inc.: Extended deadline to consummate business combination up to six additional one-month periods from January 11, 2023 to July 11, 2023, upon $10,000 payments per extension (effective 2023-01-11).
- Change
- charter amendment
- Effective
- 2023-01-11
Exact text from the filing
Western filed on January 11, 2023 the Charter Amendment with the Delaware Secretary of State. The Charter Amendment extends the date by which the Company has to consummate a business combination up to six (6) times, each such extension for an additional one (1) month period (each an “ Extension ”), from January 11, 2023 to July 11, 2023, upon payments to the Trust Account of $10,000 for each one-month Extension.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Cycurion, Inc. shareholders approved to amend the Company’s investment management trust agreement to allow the Company to extend the Extended Termination Date another six times, each extension for an additional one-month period, until July 11, 2023, by depositing $10,000 into the Trust Account for each one-month Extension at the 2023-01-06 meeting.
- Outcome
- passed
- Meeting
- 2023-01-06
Exact text from the filing
Proposal Number Two was to amend the Company’s investment management trust agreement, dated as of January 11, 2022 (the “ Trust Agreement ”), by and between the Company and American Stock Transfer & Trust Company (the “ Trustee ”), allowing the Company to extend the Extended Termination Date another six (6) times, each such extension for an additional one (1) month period, until July 11, 2023, by depositing into the Trust Account $10,000 (the “ Extension Payment ”) for each one-month Extension (or up to an aggregate of $60,000 for the total six-month period) 10,156,618 408,859 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Cycurion, Inc. shareholders approved to amend the Company’s Certificate of Incorporation to extend the date by which the Company has to consummate a business combination up to six times, each extension for an additional one-month period, from January 11, 2023 to July 11, 2023 at the 2023-01-06 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-01-06
Exact text from the filing
Proposal Number One was to amend the Company’s Certificate of incorporation (the “ Charter ”), to extend the date by which the Company has to consummate a business combination up to six (6) times (the “ Charter Amendment ”), each such extension for an additional one (1) month period (each an “ Extension ”), from January 11, 2023 to July 11, 2023 10,156,618 408,859 0
View on SEC.gov
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