Mars Acquisition extends deal deadline to Nov 16, 2024; ~$51.5M redeemed at $10.68/share

Mars Acquisition Corp.

Shareholders approved extension of business combination from Feb 16 to Nov 16, 2024.
Redemption limitation removed; holders of 4,818,568 shares redeemed for ~$10.68 each (~$51.5M total).
Non-redemption agreements for 1,550,000 shares; investors to receive 310,000 Pubco shares post-deal.
Votes: Extension Amendment 6,182,470 For, 717,235 Against; Redemption Limitation same.
Company and Sponsor entered non-redemption agreements with unaffiliated third-party shareholders.

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

Mars Acquisition Corp.: Amended articles of association to extend business combination deadline to November 16, 2024 and remove the $5,000,001 redemption limitation (effective 2024-01-30).

Change: bylaw amendment
Effective: 2024-01-30

Exact text from the filing

to extend the date by which the Company has to consummate a business combination from February 16, 2024 to November 16, 2024

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Mars Acquisition Corp. shareholders approved Redemption Limitation Amendment Proposal at the 2024-01-30 meeting.

Outcome: passed
Meeting: 2024-01-30

Exact text from the filing

The Redemption Limitation Amendment Proposal For Against Abstain 6,182,470 717,235 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Mars Acquisition Corp. shareholders approved Extension Amendment Proposal at the 2024-01-30 meeting.

Outcome: passed
Meeting: 2024-01-30

Exact text from the filing

The Extension Amendment Proposal For Against Abstain 6,182,470 717,235 0

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-24-009508

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