RF Acquisition Corp. extends business combination deadline to Dec 28, 2023 after shareholder vote; ~7.4M shares redeemed

RF Acquisition Corp.

Shareholders approved charter amendment to extend deadline from March 28 to Dec 28, 2023, with monthly deposits.
7,391,973 Class A shares redeemed at ~$10.29/share, aggregate ~$76M; trust balance after redemption ~$42.3M.
Sponsor deposited $300,000 into trust for initial three-month extension, in exchange for unsecured promissory note.
Charter also amended to allow Class B common stock conversion at any time at holder's option.

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 0.95

RF Acquisition Corp.: RF Acquisition Corp. filed an amended charter to extend its business combination deadline to December 28, 2023 and modify conversion rights of Class B common stock (effective 2023-03-30).

Change: charter amendment
Effective: 2023-03-30

Exact text from the filing

On March 30, 2023, the Company filed its Second Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “ Charter Amendment ”) to reflect the Charter Amendment Proposal and address any minor scriveners or typographical errors. Additionally reflected in the Charter Amendment, the board of directors of the Company unanimously approved, with the written consent of the sole holder of Class B Common Stock, an amendment to the Charter that modifies the existing rights of holders of Class B Common Stock to convert their shares into Class A Common Stock by allowing them to convert at any time and from time to time at the option of the holder.

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Source: SEC EDGAR

accession 0001104659-23-039136

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