secwatch.observer — SEC 8-K summary
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Issuer:     Zapata Quantum, Inc. (ZPTA)
CIK:        0001843714
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0001193125-24-085161
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 9.01, 3.02, 4.01, 3.03, 5.03, 5.01, 5.02, 5.05, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

Andretti Acquisition Corp. completes de-SPAC merger with Zapata Computing; begins trading as ZPTA
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- Redemption of 6,048,595 SPAC shares at $10.99/share ($66.45M) reduced trust proceeds.
- Exchange ratio of 0.9141 applied; 17,696,425 new shares and 3,016,409 options issued to Zapata holders.
- Sandia forward purchase: 500k new shares at $10.99 + 1M recycled shares; reset price starts at $10.00, floor $4.50.
- Senior Secured Note exchange: $14.66M principal converted to 3,257,876 shares at $4.50; $2M notes remain.
- Lock-up release of 2.3M shares for preferred stockholders; common stock locked 6–12 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1843714/000119312524085161/0001193125-24-085161-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1843714/000119312524085161/d13242d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-085161

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