SPAC shareholders approve extension to March 3, 2024; $197M redeemed

Piermont Valley Acquisition Corp

Extension from June 3, 2023 to March 3, 2024 approved; board may elect earlier liquidation.
Shareholders redeemed 18,751,603 Class A shares for ~$197.2M ($10.51 per share).
Sponsor converted 5,749,999 Class B shares to Class A, now holds ~57.5% of outstanding Class A.
Trust amendment and charter amendments filed with Cayman Registrar.
Remaining Class A shares outstanding: 9,998,396; one Class B share outstanding.

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

Piermont Valley Acquisition Corp: Extended deadline for business combination from June 3, 2023 to March 3, 2024; added board discretion to wind up earlier (effective 2023-05-23).

Change: charter amendment
Effective: 2023-05-23

Exact text from the filing

The Company filed the Charter Amendments with the Cayman Islands Registrar of Companies on May 23, 2023.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Piermont Valley Acquisition Corp shareholders approved Trust Amendment Proposal to extend business combination deadline in Trust Agreement to March 3, 2024 at the 2023-05-23 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-05-23

Exact text from the filing

Trust Amendment Proposal For Against Abstain 22,184,457 251,406 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Piermont Valley Acquisition Corp shareholders approved Liquidation Amendment Proposal to permit board to wind up operations earlier than March 3, 2024 at the 2023-05-23 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-05-23

Exact text from the filing

Liquidation Amendment Proposal For Against Abstain 22,184,457 251,406 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Piermont Valley Acquisition Corp shareholders approved Extension Amendment Proposal to extend business combination deadline from June 3, 2023 to March 3, 2024 at the 2023-05-23 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-05-23

Exact text from the filing

Extension Amendment Proposal For Against Abstain 22,184,457 251,406 0

View on SEC.gov

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Piermont Valley Acquisition Corp filing history →

Source: SEC EDGAR

accession 0001104659-23-066035

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