Northern Star IV shareholders approve extension to Sept 2023; ~90% of public shares redeemed

Northern Star Investment Corp. IV

Extension approved: 34.9M for, 3.0M against; deadline extended from March 4 to September 4, 2023.
Public holders redeemed 35.8M shares (~$363.2M), leaving only 4.2M public shares outstanding.
Sponsor converted 9.7M Class B shares to Class A; total Class A shares outstanding ~13.9M, Class B ~0.3M.
Sponsor entered non-redemption agreements, agreeing to transfer up to 1,012,500 sponsor shares to avoid redemptions.

item 1.01 item 5.03 item 5.07 item 8.01 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

Northern Star Investment Corp. IV: Extended the deadline to consummate a business combination from March 4, 2023 to September 4, 2023 (effective 2022-03-03).

Change: charter amendment
Effective: 2022-03-03

Exact text from the filing

On March 3, 2022, the Company filed the amendment to its amended and restated certificate of incorporation (the “Charter”) with the Secretary of State of the State of Delaware.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Northern Star Investment Corp. IV entered into Non-Redemption Agreements with several unaffiliated third parties (effective 2023-03-03).

Action: entry
Counterparty: several unaffiliated third parties
Effective: 2023-03-03

Exact text from the filing

On March 3, 2023, Northern Star IV Sponsor LLC (the “Sponsor”), the sponsor of Northern Star Investment Corp. IV (the “Company”), entered into agreements (“Non-Redemption Agreements”) with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of 1,600,000 shares of the Company sold in its initial public offering (“Non-Redeemed Shares”) in connection with the special meeting called by the Company (the “Meeting”) to approve an extension of time for the Company to consummate an initial business combination (the “Extension Proposal”) from March 4, 2023 to September 4, 2023 (the “Extension”).

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Northern Star Investment Corp. IV shareholders approved Extension Amendment Proposal to amend the amended and restated certificate of incorporation to extend the date by which the Company has to consummate a business combination from March 4, 2023 to September 4, 2023 at the 2023-03-01 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-01

Exact text from the filing

The following is a tabulation of the votes with respect to this proposal, which was approved by the Company’s stockholders: For Against Abstain Broker Non-Votes 34,898,471 3,017,694 0 0

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Source: SEC EDGAR

accession 0001213900-23-017922

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