Banyan stockholders approve extension to Jan 2025; ~1.3M shares redeemed at $10.70

extend the date (the “ Termination Date ”) by which Banyan has to consummate a business combination from December 24, 2023 (the “ Original Termination Date ”) to January 24, 2024 (the “ Charter Extension Date ”) and to allow Banyan, without another stockholder vote, to elect to extend the Termination Date to consummate a business combination on a monthly basis for up to twelve times by an additional one month each time after the Charter Extension Date, by resolution of Banyan’s board of directors if requested by Banyan Acquisition Sponsor LLC, a Delaware limited liability company (the “ Sponsor ”) and upon five days’ advance notice prior to the applicable Termination Date, until January 24, 2025, or a total of up to thirteen months after the Original Termination Date, unless the closing of an initial business combination shall have occurred prior thereto

eliminate from the Certificate of Incorporation the limitation that Banyan may not redeem public stock to the extent that such redemption would result in Banyan having net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Securities Exchange Act of 1934, as amended), of less than $5,000,001 (the “ Redemption Limitation ”) in order to allow Banyan to redeem public stock, irrespective of whether such redemption would exceed the Redemption Limitation