Insight Acquisition Corp. sees 88% share redemption after extension vote; trust drops to $28.7M

ALPHA MODUS HOLDINGS, INC.

Shareholders redeemed 21,151,393 Class A shares (88.1% of IPO units) in connection with extension.
Trust account reduced to ~$28.7M (from ~$230M pre-redemption); only 2.85M shares outstanding.
Approved charter amendments: extend deadline to April 7, 2023 (with up to 5 additional months to Sept 2023).
Charter amendments also remove net tangible asset redemption limitation and allow optional Class B-to-Class A conversion before a business combination.

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

ALPHA MODUS HOLDINGS, INC.: Amended charter to allow Class B common stock holders to convert shares to Class A common stock on a one-for-one basis before business combination closing, at holder's election (effective 2023-03-06).

Change: charter amendment
Effective: 2023-03-06

Exact text from the filing

amendment to the Company’s amended and restated certificate of incorporation (the “ Charter ”) to implement the Charter Amendment Proposals

View on SEC.gov

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

ALPHA MODUS HOLDINGS, INC.: Amended charter to eliminate net tangible assets redemption limitation of $5,000,001 (effective 2023-03-06).

Change: charter amendment
Effective: 2023-03-06

Exact text from the filing

amendment to the Company’s amended and restated certificate of incorporation (the “ Charter ”) to implement the Charter Amendment Proposals

View on SEC.gov

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

ALPHA MODUS HOLDINGS, INC.: Amended charter to extend business combination deadline from March 7 to April 7, 2023, with board discretion to extend up to five additional months to September 7, 2023 (effective 2023-03-06).

Change: charter amendment
Effective: 2023-03-06

Exact text from the filing

amendment to the Company’s amended and restated certificate of incorporation (the “ Charter ”) to implement the Charter Amendment Proposals

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ALPHA MODUS HOLDINGS, INC. shareholders approved Second Charter Amendment Proposal - amend charter to eliminate redemption limitation at the 2023-03-06 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-06

Exact text from the filing

Second Charter Amendment Proposal The Second Charter Amendment Proposal was approved. The voting results of the outstanding shares of INAQ common stock at the Special Meeting and entitled to vote thereon were as follows: For Against Abstentions 20,839,496 1,271 0

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ALPHA MODUS HOLDINGS, INC. shareholders approved Third Charter Amendment Proposal - amend charter to allow Class B common stock conversion on one-for-one basis at the 2023-03-06 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-06

Exact text from the filing

Third Charter Amendment Proposal The Third Charter Amendment Proposal was approved. The voting results of the outstanding shares of INAQ common stock at the Special Meeting and entitled to vote thereon were as follows: For Against Abstentions 20,839,496 1,271 0

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ALPHA MODUS HOLDINGS, INC. shareholders approved First Charter Amendment Proposal - amend charter to extend business combination deadline at the 2023-03-06 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-06

Exact text from the filing

First Charter Amendment Proposal The First Charter Amendment Proposal was approved. The voting results of the outstanding shares of INAQ common stock at the Special Meeting and entitled to vote thereon were as follows: For Against Abstentions 20,807,774 32,993 0

View on SEC.gov

25 governance changes filed in the last 30 days. Browse all governance changes →

ALPHA MODUS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-063506

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