8-K
filed May 9, 2023, 7:59 PM ET
CIK 0001850262
other material
confidence high
sentiment neutral
materiality 0.70
Integral Acquisition Corp 1: debt financing — Integral Acquisition Corp 1 extends SPAC deadline to Nov 3; $87.6M redeemed
Integral Acquisition Corp 1
- Stockholders approved extension of business combination deadline from May 5, 2023 to Nov 3, 2023.
- Sponsor Integral Sponsor LLC issued $630,000 promissory note to fund monthly Trust Account deposits.
- Holders of 8,470,059 public shares redeemed at ~$10.34/share, totaling ~$87,580,410.
- Vote on extension: 11,624,000 for, 1,870 against, 0 abstain; no broker non-votes.
- Promissory note is zero-interest, unsecured, repayable upon business combination or liquidation.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Integral Acquisition Corp 1 incurred loan of up to $630,000 with Integral Sponsor LLC at no interest maturing upon the date of the consummation of the Initial Business Combination or the liquidation of the Company.
- Instrument
- loan
- Principal
- up to $630,000
- Counterparty
- Integral Sponsor LLC
- Rate
- no interest
- Maturity
- upon the date of the consummation of the Initial Business Combination or the liquidation of the Company
- Event
- incurrence
Exact text from the filing
On May 8, 2023, Integral Acquisition Corporation 1, a Delaware corporation (the “ Company ”), issued a promissory note (the “ Note ”) in the aggregate principal amount of up to $630,000 to Integral Sponsor LLC
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Integral Acquisition Corp 1: Extended the deadline to consummate a business combination from May 5, 2023 to November 3, 2023 (effective 2023-05-03).
- Change
- charter amendment
- Effective
- 2023-05-03
Exact text from the filing
On May 3, 2023, the Company held a special meeting of stockholders (the “ Meeting ”). At the Meeting, the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “ Charter Amendment ”) to extend the date by which the Company must consummate its initial Business Combination from May 5, 2023 to November 3, 2023 (or such earlier date as determined by the Board) (the “ Extension Amendment Proposal ”). The Company filed the Charter Amendment with the Secretary of State of the State of Delaware on May 3, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Integral Acquisition Corp 1 entered into Note with Integral Sponsor LLC valued at up to $630,000 (effective 2023-05-08).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Integral Sponsor LLC
- Value
- up to $630,000
- Effective
- 2023-05-08
Exact text from the filing
Integral Acquisition Corporation 1, a Delaware corporation (the “ Company ”), issued a promissory note (the “ Note ”) in the aggregate principal amount of up to $630,000 to Integral Sponsor LLC, a Delaware limited liability company (the “ Sponsor ”), pursuant to which the Sponsor agreed to loan to the Company up to $630,000
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Integral Acquisition Corp 1 shareholders approved Extension Amendment Proposal (approval of Charter Amendment) at the 2023-05-03 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-03
Exact text from the filing
At the Meeting, the Company’s stockholders approved the Extension Amendment Proposal. The following is a tabulation of the votes with respect to the Extension Amendment Proposal and the approval of the Charter Amendment: For Against Abstain Broker Non-Votes 11,624,000 1,870 0 0
View on SEC.gov
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