Integral Acquisition Corp 1 receives Nasdaq delisting notice, extends deadline, sees heavy redemptions

Integral Acquisition Corp 1

Nasdaq will delist securities on Nov 11, 2024 for failing to complete business combination within 36 months.
Stockholders approved third extension to Nov 5, 2025; 835,672 shares redeemed at ~$11.41/share (~$9.5M).
Only 362,670 public shares remain outstanding post-redemption, down from ~1.2M.
Sponsor issued $130,561 promissory note to fund monthly trust deposits through Nov 2025.
Company continues to pursue business combination with Flybondi; combined company to list on Nasdaq.

item 1.01 item 2.03 item 3.01 item 5.03 item 5.07 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 0.9

Integral Acquisition Corp 1: Amended charter to extend business combination deadline from November 5, 2024 to November 5, 2025 on a monthly basis (effective 2024-11-01).

Change: charter amendment
Effective: 2024-11-01

Exact text from the filing

At the Meeting, the Third Extension Amendment Proposal to amend the Company’s amended and restated certificate of incorporation, as previously amended on May 3, 2023 and November 2, 2023 (the “ Charter ” and such new amendment, the “ Third Extension Amendment ”), was approved. Under Delaware law, the Third Extension Amendment took effect upon the filing of the Third Extension Amendment with the Secretary of State of the State of Delaware on November 1, 2024.

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Source: SEC EDGAR

accession 0001193125-24-252040

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