8-K
filed April 18, 2023, 7:59 PM ET
CIK 0001868269
other material
confidence high
sentiment neutral
materiality 0.65
Chenghe Acquisition I Co.: debt financing — LatAmGrowth SPAC shareholders approve extension to Nov 27, 2023; sponsor lends up to $1.05M
Chenghe Acquisition I Co.
- Shareholders approved extension of business combination deadline from April 27, 2023 to November 27, 2023.
- Trust agreement amended to allow monthly extensions by depositing lesser of $150k or $0.0375 per public share.
- Sponsor issued up to $1,050,000 promissory note to fund trust contributions for monthly extensions.
- Holders of 7,399,517 Class A shares redeemed for ~$77.5M (approx. $10.469/share) in connection with vote.
- All four proposals (extension, trust amendment, founder share conversion, removal of $5M NTA limitation) passed.
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
Chenghe Acquisition I Co. incurred loan of up to $1,050,000.00 with LatAmGrowth Sponsor LLC at non-interest bearing.
- Instrument
- loan
- Principal
- up to $1,050,000.00
- Counterparty
- LatAmGrowth Sponsor LLC
- Rate
- non-interest bearing
- Event
- incurrence
Exact text from the filing
On April 13, 2023, the Company issued a non-interest bearing non-convertible unsecured promissory note to LatAmGrowth Sponsor LLC, a Delaware limited liability company (the “Sponsor”), for a principal amount of up to $1,050,000.00
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Chenghe Acquisition I Co. amended Trust Amendment with Continental Stock Transfer & Trust Company (effective 2023-04-13).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2023-04-13
Exact text from the filing
On April 13, 2023, the Company’s shareholders approved the Trust Amendment (as defined below). Following such approval by the Company’s shareholders, the Company and the Trustee entered into the Trust Amendment on April 13, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Chenghe Acquisition I Co. shareholders approved amendment to the Articles to eliminate the limitation that the Company shall not redeem public shares to the extent that such redemption would cause the Company's net tangible assets to be less than US$5,000,001 at the 2023-04-13 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-04-13
Exact text from the filing
The Redemption Limitation Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows: For Against Abstentions 11,688,018 513,965 437,524
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Chenghe Acquisition I Co. shareholders approved amendment to the Trust Agreement to allow the Company to extend on a month to month basis the date on which the Trustee must liquidate the trust account from April 27, 2023 to up to November 27, 2023 at the 2023-04-13 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-04-13
Exact text from the filing
The Trust Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows: For Against Abstentions 11,788,766 413,217 437,524
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Chenghe Acquisition I Co. shareholders approved amendment to extend the date by which the Company must complete its initial business combination from April 27, 2023 to November 27, 2023 at the 2023-04-13 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-04-13
Exact text from the filing
The Extension Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows: For Against Abstentions 11,788,766 413,217 437,524
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Chenghe Acquisition I Co. shareholders approved amendment to the Articles to provide for the right of a holder of the Company's Class B ordinary shares to convert into Class A ordinary shares on a one-for-one basis prior to the closing of a business combination at the 2023-04-13 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-04-13
Exact text from the filing
The Founder Share Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows: For Against Abstentions 11,788,025 413,958 437,524
View on SEC.gov
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