Magnum Opus shareholders approve extension of business combination deadline to January 2024

Magnum Opus Acquisition Ltd

Approved Extension Amendment to extend termination date from July 25, 2023 to September 25, 2023, with board authority to further extend up to January 25, 2024.
Approved Founder Share Amendment allowing Class B holders to convert shares to Class A on a one-for-one basis at any time before or after business combination.
Holders of 504,890 Class A shares elected to redeem at approximately $10.48 per share, totaling $5,293,171.39.
Extension proposal received 9,317,408 votes in favor (99.99% of votes cast); Founder proposal received 9,317,294 votes in favor.
Approximately 80.36% of outstanding ordinary shares were represented at the extraordinary general meeting held July 24, 2023.

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

Magnum Opus Acquisition Ltd: Amended Articles 51.7 and 51.8 of the MAA to extend the Termination Date for a business combination from July 25, 2023 to up to January 25, 2024 (effective 2023-07-24).

Change: charter amendment
Effective: 2023-07-24

Exact text from the filing

the proposal to amend Articles 51.7 and 51.8 of the Company’s amended and restated memorandum and articles of association (as amended by a special resolution of the Company’s shareholders on March 17, 2023, the “MAA”) to extend the date (the “Termination Date”) by which the Company must (i) consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company with one or more businesses, which we refer to as a “business combination,” or (ii) cease its operations except for the purpose of winding up if it fails to complete such business combination and redeem or repurchase 100% of the Company’s then issued and outstanding public shares (the “Extension”) for two months, from July 25, 2023 to September 25, 2023, and, if the Company does not consummate a business combination by September 25, 2023, to further extend the Termination Date, without the need for any future approval of the Company’s shareholders, by resolutio

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Magnum Opus Acquisition Ltd: Amended the MAA to allow Class B ordinary shares to be converted to Class A ordinary shares on a one-for-one basis at any time before or after the business combination (effective 2023-07-24).

Change: charter amendment
Effective: 2023-07-24

Exact text from the filing

the proposal to amend the MAA to provide for the right of a holder of the Company’s Class B ordinary shares to convert such shares into the Company’s Class A ordinary shares on a one-for-one basis at any time before or concurrently with or immediately following the consummation of the Company’s business combination at the election of the holder

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Magnum Opus Acquisition Ltd shareholders approved Proposal to amend the MAA to provide for the right of a holder of Class B ordinary shares to convert such shares into Class A ordinary shares on a one-for-one basis at the 2023-07-24 meeting.

Outcome: passed
Meeting: 2023-07-24

Exact text from the filing

The Founder Share Amendment Proposal was approved. The final voting tabulation for this proposal was as follows: FOR AGAINST ABSTAIN 9,317,294 626 10

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Magnum Opus Acquisition Ltd shareholders approved Proposal to amend Articles 51.7 and 51.8 of the MAA to extend the Termination Date from July 25, 2023 to September 25, 2023, with possible further extensions at the 2023-07-24 meeting.

Outcome: passed
Meeting: 2023-07-24

Exact text from the filing

The Extension Amendment Proposal was approved. The final voting tabulation for this proposal was as follows: FOR AGAINST ABSTAIN 9,317,408 512 10

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Source: SEC EDGAR

accession 0001104659-23-084006

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