secwatch / observer
8-K filed March 6, 2023, 6:59 PM ET CIK 0001856774
other material confidence high sentiment neutral materiality 0.65

Games & Esports Experience Acquisition Corp.: debt financing — GEEX extends business combination deadline to Dec 7, 2023; 13.6M shares redeemed at ~$10.43

Games & Esports Experience Acquisition Corp.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Games & Esports Experience Acquisition Corp. incurred loan of $350,000 with GEEX Sponsor, LLC at does not bear interest maturing the earlier of the consummation of the Company's initial business combination or the date the Company liquidates the Trust Account.

Instrument
loan
Principal
$350,000
Counterparty
GEEX Sponsor, LLC
Rate
does not bear interest
Maturity
the earlier of the consummation of the Company's initial business combination or the date the Company liquidates the Trust Account
Event
incurrence
Exact text from the filing
o the Company’s sponsor, GEEX Sponsor, LLC (the “Sponsor”), which provides for borrowings from time to time of up to
View on SEC.gov
Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Games & Esports Experience Acquisition Corp.: 章程修订,延长业务合并截止日期至2023年12月7日,并取消自动三个月延长。 (effective 2023-03-06).

Change
charter amendment
Effective
2023-03-06
Exact text from the filing
On March 6, 2023, shareholders of the Company held an extraordinary general meeting of shareholders (the “Extraordinary General Meeting”), where the shareholders of the Company approved by special resolution an amendment (the “Charter Amendment”) to the amended and restated memorandum and articles of association of the Company (the “Charter”) to: (A) extend the date by which the Company has to complete an initial business combination from the Termination Date to December 7, 2023, by electing to extend the date to consummate an initial business combination on a monthly basis for up to nine times by an additional one month each time after the Termination Date, until December 7, 2023, unless the closing of the Company’s initial business combination shall have occurred, provided that the Sponsor (or its affiliates or permitted designees) will deposit into the Trust Account for each such one-month extension period the lesser of (i) an aggregate of $140,000 or (ii) $0.05 per public share tha
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Games & Esports Experience Acquisition Corp. entered into Sponsor Note with GEEX Sponsor, LLC valued at up to an aggregate of $1,000,000 (effective 2023-03-03).

Action
entry
Agreement
credit facility
Counterparty
GEEX Sponsor, LLC
Value
up to an aggregate of $1,000,000
Effective
2023-03-03
Exact text from the filing
On March 3, 2023, Games & Esports Experience Acquisition Corp. (the “Company”) issued an unsecured promissory note (the “Sponsor Note”) to the Company’s sponsor, GEEX Sponsor, LLC (the “Sponsor”), which provides for borrowings from time to time of up to an aggregate of $1,000,000 which may be drawn by the Company and used for working capital purposes and/or to finance monthly deposits into the trust account (the “Trust Account”) established in connection with the Company’s initial public offering (“IPO”) for each public share that is not redeemed in connection with the extension of the Company’s termination date from March 7, 2023 (the “Termination Date”) to December 7, 2023.
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Games & Esports Experience Acquisition Corp. shareholders approved approve by special resolution the Charter Amendment (the 'Extension Amendment Proposal').

Proposal
charter amendment
Outcome
passed
Exact text from the filing
Extension Amendment Proposal Votes For Votes Against Abstentions 19,892,353 2,218,771 0 Accordingly, the Extension Amendment Proposal was approved.
View on SEC.gov

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Source: SEC EDGAR
accession 0001104659-23-028994
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