---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-048498"
form_type: "8-K"
ticker: null
cik: "0001852633"
company_name: "Pinstripes Holdings, Inc."
filed_at: "2023-04-21T23:59:59+00:00"
generated_at: "2026-06-16T21:42:16.467859+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Banyan Acquisition extends deadline to Dec 2023; $210M redeemed, trust balance $41.7M

## Summary
- Stockholders approved Charter and Trust amendments, extending business combination deadline by 8 months to December 24, 2023.
- Holders of 20,151,313 Class A shares redeemed for ~$210M ($10.42/share), reducing trust account to ~$41.7M.
- Sponsor converted 2M Class B shares to Class A one-for-one; post-redemption outstanding: 5,998,687 Class A and 5,245,000 Class B shares.
- The extension gives Banyan until December 24, 2023 to complete a business combination with no additional payment to trust.

## SEC filing metadata
- accession: 0001104659-23-048498
- form_type: 8-K
- cik: 0001852633
- company_name: Pinstripes Holdings, Inc.
- filed_at: 2023-04-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 5.07, 5.03, 8.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1852633/000110465923048498/0001104659-23-048498-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1852633/000110465923048498/tm2312696d5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-048498
- JSON: https://secwatch.observer/filing/0001104659-23-048498.json
- Plain text: https://secwatch.observer/filing/0001104659-23-048498.txt

## Key facts
- Governance Changes
  Pinstripes Holdings, Inc.: Amended certificate of incorporation to extend business combination deadline and allow Class B to Class A conversion (effective 2023-04-21).
  - Change: charter amendment
  - Effective: 2023-04-21
  source text: On April 21, 2023, the Company filed an amendment (the “Charter Amendment”) to its amended and restated certificate of incorporation (the “Charter”) with the Secretary of State for the State of Delaware. The Charter Amendment provides that (i) the Company has the option to extend the period by which it must complete a business combination by eight months from April 24, 2023 to December 24, 2023 with such Extension Option exercisable upon at least two calendar days’ advance notice (by April 22, 2023) and (ii) each of the holders of shares of the Company’s Class B common stock (“Class B Common Stock”) has the right at any time to convert any and all of its shares of the Company’s Class B Common Stock to shares of the Company’s Class A common stock (“Class A Common Stock” and, together with the Class B Common Stock, the “Common Stock”) on a one-for-one basis prior to the closing of a business combination at the election of such holder.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000110465923048498/0001104659-23-048498-index.htm
- Shareholder Votes
  Pinstripes Holdings, Inc. shareholders approved Approval of an amendment to the Company's Amended and Restated Certificate of Incorporation to provide the Company an option to extend the time to complete a business combination from April 24, 2023 to December 24, 2023 (the Trust Amendment) at the 2023-04-21 meeting.
  - Proposal: charter amendment
  - Outcome: passed
  - Meeting: 2023-04-21
  source text: As reported in Item 5.07 below, the Trust Amendment was approved by the Company's stockholders at the reconvened special meeting of stockholders the Company's (the "Meeting") on April 21, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1852633/000110465923048498/0001104659-23-048498-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.