8-K
filed May 12, 2023, 7:59 PM ET
CIK 0001879297
other material
confidence high
sentiment negative
materiality 0.85
SPAC LAMF Global Ventures I extends deadline to May 2024 after 85% of public shares redeemed
LAMF Global Ventures Corp. I
- 22.3M Class A shares redeemed at ~$10.52 per share, totaling ~$235 million; trust account reduced to ~$31 million.
- Shareholders approved extension of business combination deadline from May 16, 2023 to Nov 16, 2023, with further monthly extensions up to May 16, 2024.
- Founder shares (8.4M) converted to Class A shares on a one-for-one basis; total Class A shares outstanding now 12.5M.
- Public shareholders now hold only ~2.95M Class A shares post-redemption; non-redemption agreements cover 2.89M of those.
- Amendments to articles eliminate the $5,000,001 net tangible asset redemption limitation.
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
LAMF Global Ventures Corp. I: Amended articles to provide holder of founder shares (Class B) with a one-to-one conversion right into Class A ordinary shares at any time before closing of a business combination (effective 2023-05-11).
- Change
- charter amendment
- Effective
- 2023-05-11
Exact text from the filing
The Company's shareholders also approved a proposal (the “Founder Share Amendment Proposal”) to provide for the right of a holder of the Company's Class B ordinary shares, par value $0.0001 per share (the “founder shares”), to convert such shares into Class A ordinary shares, par value $0.0001 per share (the “Class A ordinary shares”), on a one-for-one basis at any time and from time to time prior to the closing of a business combination at the election of the holder.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
LAMF Global Ventures Corp. I: Amended articles to eliminate the $5,000,001 net tangible asset redemption limitation and the condition to have net tangible assets of at least $5,000,001 prior to a business combination (effective 2023-05-11).
- Change
- charter amendment
- Effective
- 2023-05-11
Exact text from the filing
The Company's shareholders also approved a proposal (the “Redemption Limitation Amendment Proposal”) to amend the Articles to eliminate (i) the limitation that the Company may not redeem public shares in an amount that would cause the Company's net tangible assets to be less than $5,000,001 and (ii) the limitation that the Company shall not consummate a business combination unless the Company has net tangible assets of at least $5,000,001 immediately prior to, or upon consummation of, or any greater net tangible asset or cash requirement that may be contained in the agreement relating to, such business combination.
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
LAMF Global Ventures Corp. I: Amended articles to extend business combination deadline from May 16, 2023 to November 16, 2023, with option to extend up to May 16, 2024 (effective 2023-05-11).
- Change
- charter amendment
- Effective
- 2023-05-11
Exact text from the filing
At the Meeting, the Company's shareholders approved a proposal to amend the Company's amended and restated memorandum and articles of association (the “Articles”) to provide the Company with the right to extend the date by which the Company must consummate its initial business combination (the “Extension”), from May 16, 2023 to November 16, 2023 (the “Extended Date”), and to allow the Company, without another shareholder vote, by resolution of the Board, to elect to further extend the Extended Date in one-month increments up to six additional times, or a total of up to twelve months total, up to May 16, 2024 (the “Extension Proposal”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
LAMF Global Ventures Corp. I shareholders approved To amend the Articles to extend the date to consummate a business combination to November 16, 2023 (Extension Proposal) at the 2023-05-11 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
The vote tabulation for the Extension Proposal, Redemption Limitation Amendment Proposal and the Founder Share Amendment Proposal is set forth below. Approval of Proposal 1-Extension Proposal Votes For Votes Against Abstentions 25,151,677 4,302,969 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
LAMF Global Ventures Corp. I shareholders approved To amend the Articles to provide for conversion of founder shares into Class A ordinary shares on a one-for-one basis (Founder Share Amendment Proposal) at the 2023-05-11 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Approval of Proposal 3-Founder Share Amendment Proposal Votes For Votes Against Abstentions 25,151,675 4,302,971 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
LAMF Global Ventures Corp. I shareholders approved To amend the Articles to eliminate the net tangible asset redemption limitation (Redemption Limitation Amendment Proposal) at the 2023-05-11 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-05-11
Exact text from the filing
Approval of Proposal 2-Redemption Limitation Amendment Proposal Votes For Votes Against Abstentions 25,132,623 4,322,023 0
View on SEC.gov
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