secwatch / observer
8-K filed July 6, 2023, 7:59 PM ET CIK 0001839990
other material confidence high sentiment negative materiality 0.85

ARTE shareholders approve extension to April 2024; ~$189M redeemed, trust reduced to ~$22M

Artemis Strategic Investment Corp

item 1.01item 2.03item 5.03item 5.07item 8.01item 9.01

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 0.95

Artemis Strategic Investment Corp: Stockholders approved an amendment to the charter to provide holders of Class B common stock the right to convert their shares into Class A common stock on a one-for-one basis at any time prior to closing of a business combination at the holder's election (effective 2023-06-29).

Change
charter amendment
Effective
2023-06-29
Exact text from the filing
The Company's shareholders also approved a proposal (the "Founder Share Amendment Proposal") to provide for the right of a holder of the Company's Class B common stock, par value $0.0001 per share, to convert such shares into Class A common stock, par value $0.0001 per share, on a one-for-one basis at any time and from time to time prior to the closing of a business combination at the election of the holder.
View on SEC.gov
Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

Artemis Strategic Investment Corp: Stockholders approved an amendment to the charter to eliminate the limitation that the Company may not redeem public shares in an amount that would cause net tangible assets to be less than $5,000,001 and the limitation that the Company shall not consummate a business combination unless net tangible (effective 2023-06-29).

Change
charter amendment
Effective
2023-06-29
Exact text from the filing
The Company's shareholders also approved a proposal (the "Redemption Limitation Amendment Proposal") to amend the Charter to eliminate (i) the limitation that the Company may not redeem public shares in an amount that would cause the Company's net tangible assets to be less than $5,000,001 and (ii) the limitation that the Company shall not consummate a business combination unless the Company has net tangible assets of at least $5,000,001 immediately prior to, or upon consummation of, or any greater net tangible asset or cash requirement that may be contained in the agreement relating to, such business combination.
View on SEC.gov
Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

Artemis Strategic Investment Corp: Stockholders approved an amendment to the third amended and restated certificate of incorporation to extend the deadline for the initial business combination from July 4, 2023 to October 4, 2023, with the ability for the Board to further extend in one-month increments up to nine months total (to Apr (effective 2023-06-29).

Change
charter amendment
Effective
2023-06-29
Exact text from the filing
stockholders approved a proposal to amend the Company's third amended and restated certificate of incorporation (the "Charter") to provide the Company with the right to extend the date by which the Company must consummate its initial business combination (the "Extension"), from July 4, 2023 to October 4, 2023 (the "Extended Date"), and to allow the Company, without another stockholder vote, by resolution of the Board, to elect to further extend the Extended Date in one-month increments up to six additional times, or a total of up to nine months total, up to April 4, 2024 (the "Extension Amendment Proposal").
View on SEC.gov
Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Artemis Strategic Investment Corp entered into Subscription Agreement with Polar Multi-Strategy Master Fund valued at $1 million (effective 2023-07-05).

Action
entry
Agreement
equity purchase
Counterparty
Polar Multi-Strategy Master Fund
Value
$1 million
Effective
2023-07-05
Exact text from the filing
On July 5, 2023, the Company and Sponsor entered into a subscription agreement (“Subscription Agreement”) with Polar Multi-Strategy Master Fund (the “Investor”).
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Artemis Strategic Investment Corp shareholders approved Redemption Limitation Amendment Proposal - amend charter to eliminate net tangible asset limitations at the 2023-06-29 meeting.

Proposal
charter amendment
Outcome
passed
Meeting
2023-06-29
Exact text from the filing
Approval of Proposal 3- Redemption Limitation Amendment Proposal Votes For Votes Against Abstentions 20,549,877 139,418 0
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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Artemis Strategic Investment Corp shareholders approved Extension Amendment Proposal - amend charter to extend business combination deadline at the 2023-06-29 meeting.

Proposal
charter amendment
Outcome
passed
Meeting
2023-06-29
Exact text from the filing
Approval of Proposal 1-Extension Amendment Proposal Votes For Votes Against Abstentions 18,848,323 1,840,972 0
View on SEC.gov
Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Artemis Strategic Investment Corp shareholders approved Founder Share Amendment Proposal - amend charter to allow conversion of Class B to Class A shares at the 2023-06-29 meeting.

Proposal
charter amendment
Outcome
passed
Meeting
2023-06-29
Exact text from the filing
Approval of Proposal 2- Founder Share Proposal Votes For Votes Against Abstentions 20,547,877 141,418 0
View on SEC.gov

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Source: SEC EDGAR
accession 0001104659-23-078829
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