Monterey Innovation Acquisition Corp. stockholders approve extension to April 2024; ~558K shares redeemed

Monterey Innovation Acquisition Corp

Stockholders approved charter amendment extending business combination deadline from July 5, 2023 to up to April 5, 2024 via monthly $100k deposits.
Trust agreement amended to allow up to nine monthly extensions to April 5, 2024, each requiring $100k deposit.
558,454 shares redeemed at ~$10.835/share for aggregate ~$6.05M; remaining trust ~$15.83M.
Voting results: 3,772,142 FOR, 335,243 AGAINST, 17,600 abstain on both charter and trust amendments.

item 1.01 item 5.07 item 5.03 item 8.01 item 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 0.9

Monterey Innovation Acquisition Corp: Amended charter to extend business combination deadline from July 5, 2023 to up to April 5, 2024 by depositing $100,000 per monthly extension (effective 2023-07-03).

Change: charter amendment
Effective: 2023-07-03

Exact text from the filing

the Company filed a certificate of amendment to its amended and restated certificate of incorporation (the “Charter”) which became effective upon filing.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Monterey Innovation Acquisition Corp shareholders approved Amend the Charter to allow extension of the Combination Period by up to nine additional months at the 2023-07-03 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-07-03

Exact text from the filing

The stockholders approved the proposal to amend (the “Charter Amendment”) the Company’s Charter by allowing the Company to further extend the date by which the Company has to consummate a business combination (the “Combination Period”) from July 5, 2023 to up to nine (9) times by an additional month each time (or up to April 5, 2024) (as extended, the “Extended Date”) by depositing into the trust account $100,000 for each additional month extension.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Monterey Innovation Acquisition Corp shareholders approved Amend the Trust Agreement to allow extension of the Combination Period by up to nine additional months at the 2023-07-03 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-07-03

Exact text from the filing

The stockholders approved the proposal to amend (the “Trust Amendment” and together with the Charter Amendment, the “Extensions”) the Trust Agreement, allowing the Company to extend the Combination Period from July 5, 2023 to the Extended Date by depositing into the trust account $100,000 for each additional month extension.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-23-079704

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