Atlantic Coastal II shareholders approve charter extension to March 2024; 2.77M shares redeemed at ~$10.68

Abpro Holdings, Inc.

Stockholders approved extending business combination deadline from Dec 19, 2023 to Mar 19, 2024.
Sponsor can extend further monthly up to Sep 19, 2024 by depositing lesser of $30k or $0.045 per non-redeemed share.
Holders of 2,768,301 public shares exercised redemption rights, receiving ~$10.68 per share.
Proposal passed with 2,673,346 votes for, 210,303 against; quorum of 2,883,649 shares represented.
Redemption of over 2.7M shares significantly reduces trust assets available for future business combination.

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

Abpro Holdings, Inc.: Amendment to extend the deadline for consummating a business combination from December 19, 2023 to March 19, 2024, with possible monthly extensions up to September 19, 2024 (effective 2023-12-15).

Change: charter amendment
Effective: 2023-12-15

Exact text from the filing

the stockholders approved a proposal to amend the Company’s amended and restated certificate of incorporation, as amended (the “ Charter ”), to extend the 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 Series A common stock included as part of the units sold in the Company’s initial public offering that was consummated on January 19, 2022 (the “ Public Shares ”), from December 19, 2023 (the “ Original Termination Date ”) to March 19, 2024 (the “ Extended Date ”)

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13 governance changes filed in the last 30 days. Browse all governance changes →

Abpro Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-297729

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