SPAC Atlantic Coastal Acquisition II extends deadline to Oct 2023; 26.6M shares redeemed

Abpro Holdings, Inc.

Shareholders approved charter amendment extending business combination deadline from Apr 19, 2023 to Oct 19, 2023, with possible further extension to Dec 19, 2023.
Holders of 26,564,308 public shares redeemed at ~$10.40 per share, reducing trust account.
Sponsor entered non-redemption agreements for 3,325,900 shares; will transfer 831,475 sponsor shares post-business combination.
Series B holders voluntarily converted 7,499,999 shares to Series A, with voting restrictions and no trust distribution rights.
Post-conversion and redemptions, outstanding shares: 10,935,691 Series A and 1 Series B share.

item 1.01 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

Abpro Holdings, Inc.: Amended charter to extend business combination deadline, add Series B-to-Series A conversion right, and require 65% vote for certain amendments (effective 2023-04-18).

Change: charter amendment
Effective: 2023-04-18

Exact text from the filing

a proposal to amend the Company’s amended and restated certificate of incorporation (the “Charter”) to (a) extend the date by which the Company must consummate a business combination, (b) provide holders of Series B Common Stock (as defined in the Charter) the right to convert any and all their Series B Common Stock into Series A common stock on a one-for-one basis prior to the closing of a business combination at the election of the holder and (c) provide that certain charter amendments can be effectuated with the affirmative vote of 65% of the shares of common stock outstanding that are entitled to vote

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Abpro Holdings, Inc. shareholders approved Proposal to amend the Charter to extend the business combination date, provide Series B conversion rights, and allow certain amendments with 65% vote at the 2023-04-18 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-04-18

Exact text from the filing

(1) Proposal No. 1 — The Charter Amendment Proposal — a proposal to amend the Company’s amended and restated certificate of incorporation (the “Charter”) to (a) extend the date by which the Company must consummate a business combination, (b) provide holders of Series B Common Stock (as defined in the Charter) the right to convert any and all their Series B Common Stock into Series A common stock on a one-for-one basis prior to the closing of a business combination at the election of the holder and (c) provide that certain charter amendments can be effectuated with the affirmative vote of 65% of the shares of common stock outstanding that are entitled to vote. The following is a tabulation of the votes with respect to this proposal, which was approved by the Company’s stockholders: For Against Abstain Broker Non-Votes 27,839,831 1,624,121 3 N/A

View on SEC.gov

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

Abpro Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-105078

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.