Northern Star III shareholders OK extension to Sept 2023; ~35.9M shares redeemed for $365.4M

Northern Star Investment Corp. III

Shareholders approved amendment to extend business combination deadline from March 4 to Sept 4, 2023.
Public holders redeemed 35,999,848 shares (90% of public float), leaving 4,000,152 public shares outstanding.
Sponsor entered non-redemption agreements for 1,292,000 shares; will transfer 323,000 sponsor shares post-business combination.
Sponsor converted 9,708,334 Class B shares to Class A, resulting in 13,708,486 Class A and 291,666 Class B shares outstanding.

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. III: Amended certificate of incorporation to extend business combination deadline from March 4, 2023 to September 4, 2023 (effective 2023-03-03).

Change: charter amendment
Effective: 2023-03-03

Exact text from the filing

As a result of the foregoing, effective March 3, 2023, public holders of an aggregate of 35,999,848 public shares exercised, and did not reverse, their right to redeem their public shares (leaving an aggregate of 4,000,152 public shares outstanding after the Meeting) resulting in payment to such holders of an aggregate of approximately $365.4 million in cash. 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.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Northern Star Investment Corp. III shareholders approved The Extension Amendment Proposal — a proposal to amend the Company’s 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

Proposal No. 1 — The Extension Amendment Proposal — a proposal to amend the Company’s 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. 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 34,533,472 768,164 0 0

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Source: SEC EDGAR

accession 0001213900-23-017923

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