secwatch.observer — SEC 8-K summary
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Issuer:     Bite Acquisition Corp. (—)
CIK:        0001831270
Form:       8-K
Filed at:   2024-03-13T23:59:59+00:00
Accession:  0001104659-24-033912
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bite Acquisition amends business combination with Above Food, removes sponsor earnout vesting
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- Removed vesting conditions on 1,100,000 TopCo shares issued to Sponsor at closing; eliminated Sponsor Earnout Shares.
- Earnout EBITDA measurement shifted: FY ending Jan 31, 2025 ($21.2M target) and FY ending Jan 31, 2026 ($32.9M target).
- Earnout share targets: First Tranche at $12.50/share or $21.2M EBITDA; Second Tranche at $15.00/share or $32.9M EBITDA.
- Maximum aggregate earnout shares capped at 6,114,620 TopCo Common Shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831270/000110465924033912/0001104659-24-033912-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831270/000110465924033912/tm248748d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-033912

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