FWAC amends trust agreement to hold cash in interest-bearing deposit account at ~4% yield

Mobile Infrastructure Corp

May 25, 2023: FWAC amended Trust Agreement with Continental to allow trust proceeds in interest-bearing deposit account.
Company instructed liquidation of trust investments; cash now earns ~4.00% per annum interest.
Amendment allows trustee to hold funds uninvested, in interest-bearing demand deposit, or in U.S. government securities.
No change to business combination timeline; administrative change to preserve capital and earn interest.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Mobile Infrastructure Corp amended Amendment No. 1 to the Trust Agreement (effective 2023-05-25).

Action: amendment
Effective: 2023-05-25

Exact text from the filing

On May 25, 2023, FWAC and Continental entered into Amendment No. 1 to the Trust Agreement (“Amendment No. 1”). Amendment No. 1 amends the Trust Agreement for administrative purposes to allow for trust account proceeds to be held in an interest bearing deposit account.

View on SEC.gov

623 material agreements filed in the last 30 days. Browse all material agreements →

Mobile Infrastructure Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-156927

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.