Oxus Acquisition Corp. shareholders approve extension to Dec 8, 2023; ~$159M redeemed, trust reduced to ~$20.3M

Borealis Foods Inc.

Extension of business combination deadline from March 8, 2023 to December 8, 2023 approved.
Founder share conversion right (Class B to Class A on one-for-one basis) approved.
15,300,532 Class A shares redeemed at ~$10.41/share, aggregate ~$159.34 million.
Trust account balance reduced to approximately $20.3 million after redemptions.
Votes: 14,189,931 for, 2,585,464 against on both Extension and Founder Share Amendment proposals.

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

Borealis Foods Inc.: Extended the deadline for the company to consummate an initial business combination from March 8, 2023 to December 8, 2023 (effective 2023-03-02).

Change: charter amendment
Effective: 2023-03-02

Exact text from the filing

(1) extend the date by which the Company must consummate its initial business combination from March 8, 2023 to December 8, 2023

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Borealis Foods Inc.: Provided holders of Class B ordinary shares the right to convert into Class A ordinary shares on a one-for-one basis prior to closing a business combination (effective 2023-03-02).

Change: charter amendment
Effective: 2023-03-02

Exact text from the filing

(2) provide for the right of a holder of Class B ordinary shares of the Company to convert into Class A ordinary shares on a one-for-one basis prior to the closing of a business combination at the election of such holder.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Borealis Foods Inc. shareholders approved Founder Share Amendment Proposal to amend the Charter to provide for the right of a holder of the Class B ordinary shares to convert into the Class A ordinary shares on a one-for-one basis prior to the closing of a business combination at the election of such holder at the 2023-03-02 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-02

Exact text from the filing

The Founder Share Amendment Proposal For Against Abstain 14,189,931 2,585,464 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Borealis Foods Inc. shareholders approved Extension Proposal to amend the Charter to extend the date that the Company has to consummate a business combination from March 8, 2023 to the Extended Date at the 2023-03-02 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-02

Exact text from the filing

The Extension Proposal was approved. The voting results of the ordinary shares were as follows: For Against Abstain 14,189,931 2,585,464 0

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Borealis Foods Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-017125

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