--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-24-052070" form_type: "8-K" ticker: "CMCAF" cik: "0001865248" company_name: "Piermont Valley Acquisition Corp" filed_at: "2024-04-25T23:59:59+00:00" generated_at: "2026-06-03T08:15:38.129246+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.8 calibrated_materiality_score: 0.8 confidence: "high" source: SEC EDGAR --- # New sponsor Vikasati Partners acquires control of Capitalworks SPAC; entire board and officers replaced ## Summary - New Sponsor bought 3,925,000 Class A shares, 7,605,000 warrants, and 1 Class B share from prior sponsor for undisclosed consideration. - All prior directors and officers resigned; Suresh Guduru appointed Chairman & CEO, Brian Coad CFO, along with three new directors. - Non-redemption agreements amended; forward purchase and working capital loan terminated; admin services agreement terminated. - Barclays waived deferred discount from underwriting agreement on March 20, 2024. ## SEC filing metadata - accession: 0001104659-24-052070 - form_type: 8-K - ticker: CMCAF - cik: 0001865248 - company_name: Piermont Valley Acquisition Corp - filed_at: 2024-04-25T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.8 - calibrated_materiality_score: 0.8 - confidence: high - sec_items: 1.01, 1.02, 5.02, 8.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/tm2412724d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-24-052070 - JSON: https://secwatch.observer/filing/0001104659-24-052070.json - Plain text: https://secwatch.observer/filing/0001104659-24-052070.txt ## Key facts - Executive change Suresh Guduru was appointed as Chairman at Piermont Valley Acquisition Corp. - Action: appointed - Role: Chairman source text: Suresh Guduru was appointed as Chairman and Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change Suresh Singamsetty was appointed as Director at Piermont Valley Acquisition Corp. - Action: appointed - Role: Director source text: Suresh Singamsetty was appointed as a director evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change Brian Coad was appointed as Chief Financial Officer at Piermont Valley Acquisition Corp. - Action: appointed - Role: Chief Financial Officer source text: Brian Coad was appointed as a director and Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change John Levy was appointed as Director at Piermont Valley Acquisition Corp. - Action: appointed - Role: Director source text: John Levy was appointed as a director evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change Brian Coad was appointed as Director at Piermont Valley Acquisition Corp. - Action: appointed - Role: Director source text: Brian Coad was appointed as a director and Chief Financial Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change Suresh Guduru was appointed as Chief Executive Officer at Piermont Valley Acquisition Corp. - Action: appointed - Role: Chief Executive Officer source text: Suresh Guduru was appointed as Chairman and Chief Executive Officer evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Executive change Kishore Kondragunta was appointed as Director at Piermont Valley Acquisition Corp. - Action: appointed - Role: Director source text: Kishore Kondragunta was appointed as a director evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Material Agreements Piermont Valley Acquisition Corp terminated Working Capital Loan with Prior Sponsor valued at $1,500,000 (effective 2024-04-19). - Action: termination - Agreement: credit facility - Counterparty: Prior Sponsor - Value: $1,500,000 - Effective: 2024-04-19 source text: On April 19, 2024, Prior Sponsor and the Company terminated and cancelled the Working Capital Loan pursuant to a loan termination and release deed (the “ Termination Agreement ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Material Agreements Piermont Valley Acquisition Corp terminated Administrative Services Agreement with Capitalworks Investment Partners International Limited valued at $20,000 per month (effective 2024-04-25). - Action: termination - Counterparty: Capitalworks Investment Partners International Limited - Value: $20,000 per month - Effective: 2024-04-25 source text: On April 25, 2024, the Company and the Provider entered into a termination agreement to terminate the Company and Provider’s rights and obligations under the Administrative Services Agreement. evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Material Agreements Piermont Valley Acquisition Corp amended Assignment Agreements with certain First Extension NRA holders. - Action: amendment - Counterparty: certain First Extension NRA holders source text: Prior Sponsor and certain First Extension NRA holders entered into assignments of economic interest (the “ Assignment Agreements ”), pursuant to which Prior Sponsor agreed to transfer an aggregate of 24,000 Class A ordinary shares (the “ Commitment Shares ”) to certain First NRA Holders upon the consummation of the Business Combination. Effective as of the Closing (as defined below) and pursuant to certain letter agreements, Prior Sponsor, New Sponsor and the First Extension NRA Holders agreed to (i) decrease the number of First Extension NRA Forfeited Shares from 1,099,935 First Extension NRA Forfeited Shares to an aggregate of 314,978 First Extension NRA Forfeited Shares and (ii) decrease the number of Commitment Shares from 24,000 Commitment Shares to an aggregate of 8,401 Commitment Shares. evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm - Material Agreements Piermont Valley Acquisition Corp amended Underwriting Agreement with Barclays Capital Inc. (effective 2024-03-20). - Action: amendment - Agreement: underwriting - Counterparty: Barclays Capital Inc. - Effective: 2024-03-20 source text: On March 20, 2024, the Company and Barclays entered into a letter agreement pursuant to which Barclays waived its Deferred Discount (as defined in the Underwriting Agreement). evidence_url: https://www.sec.gov/Archives/edgar/data/1865248/000110465924052070/0001104659-24-052070-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.