8-K
filed February 7, 2023, 6:59 PM ET
CIK 0001830795
other material
confidence high
sentiment negative
materiality 0.75
Quantum FinTech shareholders approve extension to Aug 9, 2023; ~$149M redeemed, trust drops to $54M
Quantum FinTech Acquisition Corp
- Stockholders approved charter amendment to extend business combination deadline to up to Aug 9, 2023, with monthly sponsor deposits of up to $175K.
- Holders of 14,667,626 shares exercised redemption right at ~$10.15/share, totaling ~$148.88M.
- Trust account reduced from ~$202M to ~$53.68M after redemptions.
- Seven directors re-elected; Marcum LLP ratified as independent auditor for fiscal 2023.
- Sponsor to fund monthly extensions via non-interest bearing promissory notes if needed.
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
Quantum FinTech Acquisition Corp: Amended certificate of incorporation to extend business combination deadline from February 9, 2023 to up to August 9, 2023, with monthly extension options and sponsor deposit provisions (effective 2023-02-06).
- Change
- charter amendment
- Effective
- 2023-02-06
Exact text from the filing
the Company filed an amendment to its amended and restated certificate of incorporation (the “ Charter ”) with the Delaware Secretary of State on February 6, 2023 (the “ Charter Amendment ”), to extend the date by which the Company has to consummate a business combination for an additional six months, from February 9, 2023 (the “ Termination Date ”) to up to August 9, 2023
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Quantum FinTech Acquisition Corp amended Trust Amendment with Continental Stock Transfer & Trust Company (effective 2023-02-06).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Effective
- 2023-02-06
Exact text from the filing
Quantum FinTech Acquisition Corporation (the “ Company ”) entered into an amendment to the Investment Management Trust Agreement, dated as of February 4, 2021 (the “ Trust Agreement ”), with Continental Stock Transfer & Trust Company (“ Continental ”), on February 6, 2023 (the “ Trust Amendment ”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Quantum FinTech Acquisition Corp shareholders approved Re-elect seven directors at the 2023-02-06 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-02-06
Exact text from the filing
The stockholders approved the proposal to re-elect seven directors to the Board, with such directors to serve until the first annual meeting of stockholders following this special meeting or until his successor is elected and qualified.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Quantum FinTech Acquisition Corp shareholders approved Ratify Marcum LLP as independent auditor for fiscal year 2023 at the 2023-02-06 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-02-06
Exact text from the filing
The stockholders approved the proposal to ratify the selection by the Audit Committee of Marcum LLP to serve as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Quantum FinTech Acquisition Corp shareholders approved Amend the Trust Agreement to provide for the extension at the 2023-02-06 meeting.
- Outcome
- passed
- Meeting
- 2023-02-06
Exact text from the filing
The stockholders approved the proposal to amend the Trust Agreement, dated February 4, 2021, by and between the Company and Continental, to provide for the Extension to the Extended Date pursuant to the Charter Amendment.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Quantum FinTech Acquisition Corp shareholders approved Amend the Charter to extend the business combination deadline at the 2023-02-06 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-02-06
Exact text from the filing
The stockholders approved the proposal to amend the Company’s Charter, to extend the date by which the Company has to consummate a business combination for an additional six months, from the Termination Date to the Extended Date
View on SEC.gov
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