8-K
filed July 14, 2023, 7:59 PM ET
CIK 0001844507
other material
confidence high
sentiment neutral
materiality 0.65
Achari Ventures extends business combination deadline to Jan 2024; shareholders redeem 381K shares
Achari Ventures Holdings Corp. I
- Shareholders approved charter amendment to extend deadline from July 19, 2023 to January 19, 2024.
- Trust agreement amended to allow monthly extension option: deposit lesser of $100K or $0.05/share per month.
- 381,144 shares redeemed at ~$10.50/share for aggregate ~$4.0M; trust balance now ~$6.7M.
- Vote results: 3,128,962 for, 266,200 against each amendment (exceeds 65% approval threshold).
- Extension option exercisable in six single-month increments; first monthly deadline is the 19th of each month.
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
Achari Ventures Holdings Corp. I: Stockholders approved the Charter Amendment Proposal, resulting in the filing of the Fourth Amended and Restated Certificate of Incorporation.
- Change
- charter amendment
Exact text from the filing
ourth Amended and Restated Certificate of Incorporation and Second Amended and Restated Trust Agreement, each filed hereto as Exhibit 3.1 and 10.1, respectively, and incorporated by reference herein. Item 5.03. Amendments to Articles of Incorporation or Bylaws.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Achari Ventures Holdings Corp. I entered into Second Amended and Restated Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-07-12).
- Action
- entry
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2023-07-12
Exact text from the filing
The Company entered into the Second Amended and Restated Trust Agreement on July 12, 2023 with Continental Stock Transfer & Trust Company.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Achari Ventures Holdings Corp. I shareholders approved The Trust Amendment Proposal at the 2023-07-12 meeting.
- Outcome
- passed
- Meeting
- 2023-07-12
Exact text from the filing
Proposal No. 2— The Trust Amendment Proposal Stockholders approved the Trust Amendment Proposal. Passage of the Trust Amendment Proposal required approval by the affirmative vote of at least 65% of the Company’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 3,128,962 266,200 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Achari Ventures Holdings Corp. I shareholders approved The Adjournment Proposal at the 2023-07-12 meeting.
- Outcome
- passed
- Meeting
- 2023-07-12
Exact text from the filing
Proposal No. 3— The Adjournment Proposal Stockholders approved a proposal to adjourn the Special Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there were insufficient votes, or in certain other circumstances. Passage of the proposal to adjourn the Special Meeting required a majority of the Company’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 3,281,565 113,597 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Achari Ventures Holdings Corp. I shareholders approved The Charter Amendment Proposal at the 2023-07-12 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-07-12
Exact text from the filing
Proposal No. 1— The Charter Amendment Proposal Stockholders approved the Charter Amendment Proposal. Passage of the Charter Amendment Proposal required approval by the affirmative vote of at least 65% of the Company’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 3,128,962 266,200 0
View on SEC.gov
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