secwatch.observer — SEC 8-K summary
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Issuer:     Black Mountain Acquisition Corp. (—)
CIK:        0001848020
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001193125-23-105043
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BMAC stockholders approve extension; 22.6M shares redeemed for ~$235.7M
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- Stockholders approved extending business combination deadline to June 18, 2023, with optional monthly extensions to Dec 18, 2023.
- Sponsor deposited $320,000 into trust for initial extension; promissory note issued, convertible into warrants at $1 each.
- Holders of 22,656,774 shares redeemed for ~$235.7M ($10.40/share), reducing trust to ~$106M.
- Charter amended to allow additional extensions and remove penny stock redemption limitation.
- All four proposals passed with >90% approval; voting turnout 80.12% of outstanding shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1848020/000119312523105043/0001193125-23-105043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1848020/000119312523105043/d493128d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-105043

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