Pyrophyte shareholders approve charter extension to April 2024; 11.15M shares redeemed

Pyrophyte Acquisition Corp.

Shareholders approved extending business combination deadline from April 29, 2023 to April 29, 2024.
Also approved amendments to remove redemption limitation and allow founder share conversion before closing.
Holders of 11,151,163 Class A ordinary shares redeemed at ~$10.52 per share, leaving ~$94.75M in trust.
All four proposals passed with over 21.8 million votes for and minimal against/abstain.
Charter amendments adopted on April 24, 2023, effective same day.

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 0.9

Pyrophyte Acquisition Corp.: Shareholders approved amendments to the Charter to extend business combination deadline to April 29, 2024, add liquidation election, eliminate redemption limitation, and allow founder share conversion (effective 2023-04-24).

Change: charter amendment
Effective: 2023-04-24

Exact text from the filing

On April 24, 2023, the Company adopted the amendments to the Charter, effective the same day.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Pyrophyte Acquisition Corp. shareholders approved Liquidation Amendment to permit the board to elect to wind up operations on an earlier date at the 2023-04-24 meeting.

Outcome: passed
Meeting: 2023-04-24

Exact text from the filing

Liquidation Amendment, which was approved by the Company’s shareholders: For Against Abstain 21,866,538 55,072 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Pyrophyte Acquisition Corp. shareholders approved Founder Share Amendment to provide for conversion of Class B ordinary shares to Class A ordinary shares at the 2023-04-24 meeting.

Outcome: passed
Meeting: 2023-04-24

Exact text from the filing

Founder Share Amendment, which was approved by the Company’s shareholders: For Against Abstain 21,866,538 55,072 0

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Pyrophyte Acquisition Corp. shareholders approved Extension Amendment to extend the date to consummate an initial business combination from April 29, 2023 to April 29, 2024 at the 2023-04-24 meeting.

Proposal: merger approval
Outcome: passed
Meeting: 2023-04-24

Exact text from the filing

Extension Amendment, which was approved by the Company’s shareholders: For Against Abstain 21,866,538 55,072 0

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 1.0

Pyrophyte Acquisition Corp. shareholders approved Redemption Limitation Amendment to eliminate the restriction that the Company may not redeem shares below $5,000,001 net tangible assets at the 2023-04-24 meeting.

Outcome: passed
Meeting: 2023-04-24

Exact text from the filing

Redemption Limitation Amendment, which was approved by the Company’s shareholders: For Against Abstain 21,841,538 55,072 25,000

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-052946

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