secwatch.observer — SEC 8-K summary
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Issuer:     Newbury Street Acquisition Corp (—)
CIK:        0001831978
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001104659-23-037174
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.07, 2.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831978/000110465923037174/0001104659-23-037174-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831978/000110465923037174/tm2310280d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-037174

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer