BFAC shareholders approve extension up to June 2024; $242M redeemed, trust drops to $120M

Battery Future Acquisition Corp.

Shareholders approved up to 12 monthly extensions to June 17, 2024; sponsor deposited $500k for first two months.
23,063,075 Class A shares redeemed at ~$10.51/share, removing $242.4M from trust, leaving $119.6M.
After redemptions, 20,061,925 shares outstanding (11,436,925 Class A; 8,625,000 Class B).
Extension moves deadline to August 17, 2023; sponsor may fund further monthly extensions.

item 1.01 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

Battery Future Acquisition Corp.: The Company adopted an amendment to its Amended and Restated Memorandum and Articles of Association to extend the Combination Period up to twelve times for one month each, from June 17, 2023 to June 17, 2024, by depositing extension payments into the Trust Account (effective 2023-06-12).

Change: charter amendment
Effective: 2023-06-12

Exact text from the filing

As approved by its shareholders at the Meeting on June 12, 2023, the Company adopted its Second Amended and Restated Memorandum and Articles of Association on June 12, 2023 (the “Charter Amendment”), giving the Company the right to extend the date by which it has to consummate a business combination (the “Combination Period”) up to twelve (12) times for an additional one (1) month each time, from June 17, 2023 to June 17, 2024, by depositing into the Trust Account the lesser of (i) $0.03 per outstanding share and (ii) $250,000 (the “Extension Payment”), until the earlier of (a) the completion of a business combination and (b) the announcement of the Company’s intention to wind up its operations and liquidate.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Battery Future Acquisition Corp. shareholders approved Charter Amendment Proposal - to extend the Combination Period at the 2023-06-12 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-06-12

Exact text from the filing

The Charter Amendment Proposal was approved by special resolution of the Company’s shareholders, and received the following votes: BFAC Ordinary Shares Votes For BFAC Ordinary Shares Votes Against BFAC Ordinary Shares Abstentions 31,699,310 86,228 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Battery Future Acquisition Corp. shareholders approved Trust Amendment Proposal - to amend the Trust Agreement at the 2023-06-12 meeting.

Outcome: passed
Meeting: 2023-06-12

Exact text from the filing

The Trust Amendment Proposal was approved by ordinary resolution of the Company’s shareholders, and received the following votes: BFAC Ordinary Shares Votes For BFAC Ordinary Shares Votes Against BFAC Ordinary Shares Abstentions 31,699,310 86,228 0

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-165417

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