secwatch.observer — SEC 8-K summary
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Issuer:     Iconic Sports Acquisition Corp. (—)
CIK:        0001858351
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001104659-23-049078
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.03, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iconic Sports shareholders approve extension; $222.5M redeemed, 58% of shares
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- Extension of business combination deadline from Apr 26 to Jul 26, 2023, with optional monthly extensions to Apr 2024.
- Redemption limitation removed, enabling redemption of 21.1M shares at ~$10.53/share for ~$222.5M.
- Sponsor provided up to $1.44M convertible note; $360K drawn for trust deposit, converts to warrants at $1.00.
- Votes: 33.1M for, 2.8M against for both proposals; adjournment not needed.
- Note matures upon business combination; up to $750K may convert to private-placement-like warrants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1858351/000110465923049078/0001104659-23-049078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1858351/000110465923049078/tm2313319d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-049078

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