Worldwide Webb shareholders approve extension to 24 months; ~$189M redeemed

Aeries Technology, Inc.

Shareholders approved extension of business combination deadline from 18 to 24 months post-IPO.
Approved amendment eliminating net tangible asset limitation on redemptions.
Holders of 18,281,946 Class A shares redeemed at ~$10.36/share, total ~$189.4M.
Trust account now holds ~$48.9M with 4,718,054 Class A shares outstanding.
81.87% of voting power present at meeting; both proposals passed with >23M votes for.

item 3.03 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 0.95

Aeries Technology, Inc.: Shareholders approved an amendment to the Articles to extend the deadline for the Company to complete a business combination from 18 months to 24 months from the closing of the IPO, and an amendment to eliminate the redemption limitation that prevented the Company from redeeming Class A ordinary sha (effective 2023-04-14).

Change: charter amendment
Effective: 2023-04-14

Exact text from the filing

At the Meeting, the Company’s shareholders also approved two proposals to amend the Company’s amended and restated memorandum and articles of association (the “ Articles ”). The first such proposal (the “ Extension Amendment Proposal ”) sought to amend the Articles to extend the date by which the Company must (1) consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, (2) cease its operations except for the purpose of winding up if it fails to complete such business combination, and (3) redeem all of the Company’s Class A ordinary shares sold in the Company’s initial public offering that was consummated on October 22, 2021 (the “IPO”), from 18 months from the closing of the Company’s IPO to 24 months from the closing of the IPO (the “ Extension Amendment ”). The second such proposal (the “ Redemption Limitation Amendment Proposal ”) sought to amend the Articles to elimi

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Aeries Technology, Inc. shareholders approved Extension Amendment Proposal.

Outcome: passed

Exact text from the filing

The Extension Amendment Proposal For Against Abstain 23,010,257 25,965 500,007

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Aeries Technology, Inc. shareholders approved Redemption Limitation Amendment Proposal.

Outcome: passed

Exact text from the filing

The Redemption Limitation Amendment Proposal For Against Abstain 23,010,057 26,165 500,007

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Aeries Technology, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-106430

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