--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-011240" form_type: "8-K" ticker: null cik: "0001821329" company_name: "CC Neuberger Principal Holdings III" filed_at: "2023-02-06T23:59:59+00:00" generated_at: "2026-06-20T00:17:26.202046+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # CC Neuberger SPAC extends business combination deadline to May 5, 2023; $362.8M redeemed ## Summary - Shareholders approved extension of termination date from Feb 5, 2023 to May 5, 2023, with up to nine additional monthly extensions to Jan 29, 2024. - Holders of 35,712,662 Class A shares redeemed for ~$10.16 per share, totaling ~$362.8M withdrawn from trust. - Sponsor issued unsecured promissory note for up to $2.04M; initial $560K funded to trust on Feb 6, 2023. - Up to $1.5M of note principal may be converted into warrants at $1.00 per warrant, identical to IPO private placement warrants. - Redemption limitation amendment approved, allowing redemptions even if net tangible assets fall below $5M threshold. ## SEC filing metadata - accession: 0001104659-23-011240 - form_type: 8-K - cik: 0001821329 - company_name: CC Neuberger Principal Holdings III - filed_at: 2023-02-06T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 2.03, 5.03, 5.07, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/0001104659-23-011240-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/tm234963d3_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-011240 - JSON: https://secwatch.observer/filing/0001104659-23-011240.json - Plain text: https://secwatch.observer/filing/0001104659-23-011240.txt ## Key facts - Debt Financings CC Neuberger Principal Holdings III incurred loan of up to $2,040,000 with CC Neuberger Principal Holdings III Sponsor LLC at does not bear interest maturing matures upon closing of the Company’s initial business combination. - Instrument: loan - Principal: up to $2,040,000 - Counterparty: CC Neuberger Principal Holdings III Sponsor LLC - Rate: does not bear interest - Maturity: matures upon closing of the Company’s initial business combination - Event: incurrence source text: on February 1, 2023, the Company issued an unsecured promissory note in the total principal amount of up to $2,040,000 (the “ Promissory Note ”) to the Sponsor. The Sponsor funded the initial principal amount of $560,000 on February 6, 2023. The Promissory Note does not bear interest and matures upon closing of the Company’s initial business combination. evidence_url: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/0001104659-23-011240-index.htm - Governance Changes CC Neuberger Principal Holdings III: On February 1, 2023, shareholders approved amendments to the Company's amended and restated memorandum and articles of association to extend the deadline to consummate a business combination from February 5, 2023 to May 5, 2023, with possible further monthly extensions up to January 29, 2024, and to (effective 2023-02-01). - Change: charter amendment - Effective: 2023-02-01 source text: Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On February 1, 2023, the Company held the Extension Meeting (1) to amend the Company’s amended and restated memorandum and articles of association (the “ Articles ”) to extend the date (the “ Termination Date ”) by which the Company has to consummate a business combination (the “ Articles Extension ”) from February 5, 2023 (the “ Original Termination Date ”) to May 5, 2023 (the “ Articles Extension Date ”) and to allow the Company, without another shareholder vote, to elect to extend the Termination Date to consummate a business combination on a monthly basis for up to nine times by an additional one month each time after the Articles Extension Date, by resolution of the Company’s board of directors if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until January 29, 2024, or a total of up to twelve months after the Original Termination Date, unless evidence_url: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/0001104659-23-011240-index.htm - Shareholder Votes CC Neuberger Principal Holdings III shareholders approved Extension Amendment Proposal at the 2023-02-01 meeting. - Outcome: passed - Meeting: 2023-02-01 source text: The Extension Amendment Proposal For Against Abstain 38,556,643 1,252,048 400,150 evidence_url: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/0001104659-23-011240-index.htm - Shareholder Votes CC Neuberger Principal Holdings III shareholders approved Redemption Limitation Amendment Proposal at the 2023-02-01 meeting. - Outcome: passed - Meeting: 2023-02-01 source text: The Redemption Limitation Amendment Proposal For Against Abstain 39,756,078 52,663 400,100 evidence_url: https://www.sec.gov/Archives/edgar/data/1821329/000110465923011240/0001104659-23-011240-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.