secwatch.observer — SEC 8-K summary
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Issuer:     Atlantic Coastal Acquisition Corp. (—)
CIK:        0001836274
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0001104659-23-106801
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 5.01, 9.01, 6.01
LLM model:  deepseek-v4-flash:cloud@v2

Atlantic Coastal Acquisition Corp. undergoes change of control; new CEO and board appointed
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- Sponsor sells 55% membership to Porche Capital for $1.00, assumes ~$420k in accrued expenses.
- Shahraab Ahmad resigns as CEO and Chairman; Anthony Porcheron becomes CEO and managing member of Sponsor.
- Entire officer team replaced: Khash-Erdene Gantumur is new CFO, Tsogtgerel Bayanjargal is EVP.
- Board to be replaced: new directors include Chandra Panchal, Tseren Purev, Bartholomew Pan-Kita.
- Existing officers resigned Sep 29; board resignations expected within 10 days of closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/0001104659-23-106801-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1836274/000110465923106801/tm2327588d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-106801

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