Investcorp Europe extends SPAC deadline to June 2024; $82M redeemed

Invest Acquisition Corp

Shareholders approved extension of business combination deadline from Dec 17, 2023 to June 17, 2024.
Holders of 7,460,372 Class A shares redeemed at ~$10.9972 per share for total ~$82M.
Over 77% of outstanding shares voted; 20.8M for, 702K against the extension amendment.
Redemption price approximates trust value per share; large redemptions indicate low confidence in near-term deal.

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

Invest Acquisition Corp: Extended the date by which the company must complete its initial business combination from December 17, 2023 to June 17, 2024 (effective 2023-12-05).

Change: charter amendment
Effective: 2023-12-05

Exact text from the filing

On December 5, 2023, Investcorp Europe Acquisition Corp I (the “Company”) held an extraordinary general meeting at the offices of Shearman & Sterling, located at 800 Capital Street, Suite 2200, Houston, Texas 77002 and virtually, at which shareholders approved an amendment to the Company’s Amended and Restated Memorandum and Articles of Association (the “Articles”) to extend the date by which the Company must complete its initial business combination from December 17, 2023 to June 17, 2024 (the “Extension Amendment Proposal”).

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Invest Acquisition Corp shareholders approved To amend the Company’s Articles to extend the date by which the Company has to consummate a business combination for an additional six months from December 17, 2023 to June 17, 2024..

Proposal: charter amendment
Outcome: passed

Exact text from the filing

The Extension Amendment Proposal was approved. The voting results were as follows: For Against Abstentions 20,832,512 702,047 9

View on SEC.gov

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Source: SEC EDGAR

accession 0001193125-23-290774

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