secwatch.observer — SEC 8-K summary
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Issuer:     SHUAA Partners Acquisition Corp I (—)
CIK:        0001886268
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001193125-23-160710
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.03, 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SHUAA Partners extends business combination deadline to Sep 4, 2023; holders redeem ~$87.9M, trust at ~$27.2M
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- Shareholders approved extension of termination date from Jun 4 to Sep 4, 2023, with option for up to nine further monthly extensions to Jun 2024.
- Holders of 8,299,638 Class A shares redeemed at ~$10.59/share for aggregate ~$87.9M; trust account reduced to ~$27.2M.
- Company issued unsecured promissory note to sponsor for up to $840,000; initial $210,000 funded on Jun 2, 2023.
- Founder shares converted into Class A ordinary shares; converted shares not entitled to trust monies.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886268/000119312523160710/0001193125-23-160710-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886268/000119312523160710/d495199d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-160710

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