TCOA shareholders approve charter amendment to extend business combination deadline to March 2024

Zalatoris Acquisition Corp.

21,562,500 shares entitled to vote; 18,753,240 voted; 18,430,887 for (85.5%), 322,353 against.
Charter amendment allows up to nine monthly extensions; first extension deposit of $150,000 made.
Extension deposit represents ~$0.02 per unredeemed public share; deadline now July 14, 2023 for first month.
Second adjournment proposal was not presented because Extension Amendment Proposal passed.

item 2.03 item 5.03 item 3.03 item 5.07 item 7.01 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

Zalatoris Acquisition Corp.: Stockholders approved an amendment to the certificate of incorporation to change the structure and cost of the company's right to extend the termination date for a business combination by up to nine one-month extensions to March 14, 2024, with specific deposit requirements (effective 2023-06-12).

Change: charter amendment
Effective: 2023-06-12

Exact text from the filing

On June 12, 2023, the stockholders of the Company approved the Charter Amendment at the Stockholder Meeting, changing the structure and cost of the Company’s right to extend the date (the “ Termination Date ”) by which the Company must (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination involving the Company and one or more businesses (a “ business combination ”), (ii) cease its operations if it fails to complete such business combination, and (iii) redeem or repurchase 100% of the Company’s Class A common stock included as part of the units sold in the Company’s initial public offering.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Zalatoris Acquisition Corp. shareholders approved Extension Amendment Proposal – amend certificate of incorporation to extend business combination deadline from June 14, 2023 to March 14, 2024 at the 2023-06-12 meeting.

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

Exact text from the filing

Proposal 1 – Extension Amendment Proposal The Company’s stockholders approved the proposal to amend the Company’s amended and restated certificate of incorporation (the “ Extension Amendment Proposal ”) to extend the date by which the Company must complete a business combination from June 14, 2023 to March 14, 2024, pursuant to which the Company, the Sponsor or any of their affiliates or designees will cause to be deposited into the trust account in connection with each one month extension the lesser of (i) $150,000 and (ii) an aggregate amount equal to $0.04 multiplied by the number of public shares of the Company, provided that if any Extended Deadline ends on a day that is not a business day, such Extended Deadline will be automatically extended to the next succeeding business day. The following is a tabulation of the voting results: Common Stock: Votes For Votes Against Abstentions Broker Non-Votes 18,430,887 (85.5%) 322,353 (1.5%) 0 (0.0%) —

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Source: SEC EDGAR

accession 0001193125-23-167930

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