Newbury Street Acquisition extends deadline to Sept 2023; redemptions remove ~$78.8M from trust

Newbury Street Acquisition Corp

Stockholders approved extension of business combination deadline from March 25, 2023 to September 25, 2023.
Holders of 7,744,085 shares redeemed at ~$10.17 per share, total ~$78.8M removed from trust account.
Post-redemption, 8,917,715 shares outstanding; trust account reduced by ~$78.8M.
Sponsor agreed to contribute up to $2.1M via amended note; initial $600k plus $200k/month after June 23.
Charter amendment filed with Delaware Secretary of State to effect extension.

item 1.01 item 5.07 item 2.03 item 5.03 item 9.01

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

Newbury Street Acquisition Corp: Amended Second Amended and Restated Certificate of Incorporation to extend the business combination deadline from March 25, 2023 to September 25, 2023 (effective 2023-03-23).

Change: charter amendment
Effective: 2023-03-23

Exact text from the filing

On March 23, 2023, the Company filed an amendment to its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “Charter Amendment”) to extend the date by which the Company has to consummate a business combination to from March 25, 2023 to September 25, 2023.

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Source: SEC EDGAR

accession 0001104659-23-037174

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