Cartesian Growth II extends deadline to Nov 2025; $99.6M redeemed, trust drops to $83.8M

Cartesian Growth Corp II

Shareholders approved extension of business combination deadline from Nov 10, 2024 to up to Nov 5, 2025 via monthly extensions.
Sponsor deposited $150k for first month extension; will pay $150k-$250k per month depending on period.
Holders of 8,620,849 shares redeemed at ~$11.55/share for total $99.6M; trust now holds $83.8M.
Shareholders eliminated the $5M net tangible assets redemption limitation.
Sponsor issued up to $2.4M extension note and $250k working capital note, both unsecured, non-interest bearing.

item 1.01 item 2.03 item 5.03 item 5.07 item 8.01 item 9.01

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

Cartesian Growth Corp II: Shareholders approved amendment to eliminate the net tangible assets redemption limitation and related requirement for consummating initial business combination (effective 2024-11-06).

Change: charter amendment
Effective: 2024-11-06

Exact text from the filing

The shareholders approved the proposal to amend the Company’s Charter to eliminate (i) the limitation that the Company shall not redeem the Class A Ordinary Shares to the extent that such redemption would result in the Company’s failure to have net tangible assets of at least $5,000,001, upon consummation of the Company’s initial business combination (such limitation, the "Redemption Limitation"), and (ii) the requirement that the Company shall not consummate an initial business combination unless the Redemption Limitation is not exceeded (together, the "NTA Requirement Amendment Proposal")

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Cartesian Growth Corp II: Shareholders approved amendment to extend deadline for initial business combination from November 10, 2024 to up to November 5, 2025, with monthly extension payments (effective 2024-11-06).

Change: charter amendment
Effective: 2024-11-06

Exact text from the filing

The shareholders approved the proposal to amend the Company’s Charter to extend the date by which the Company must (1) effect a merger, share exchange, asset acquisition, share purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities, which we refer to as our initial business combination, (2) cease its operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the Class A ordinary shares, par value $0.0001 per share, of the Company ("Class A Ordinary Shares"), included as part of the units sold in the Company’s initial public offering that was consummated on May 10, 2022 (the "IPO") if it fails to complete such initial business combination, from November 10, 2024 (the "Current Termination Date") to up to November 5, 2025

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Cartesian Growth Corp II filing history →

Source: SEC EDGAR

accession 0001104659-24-115936

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