Bolt Projects Holdings, Inc. (BSLK): debt financing — Golden Arrow extends deadline to Dec 2023; holders redeem 93% of trust

Bolt Projects Holdings, Inc.

Stockholders approved extension of business combination deadline from Mar 19, 2023 to up to Dec 19, 2023 via monthly extensions.
26,649,519 public shares redeemed at ~$10.16/share for ~$270.8M, leaving only ~$21.3M in trust account.
Sponsor voluntarily converted 7,047,500 Class B shares into Class A common stock.
Company issued $567,130 promissory note to sponsor for first extension payment of $63,015 (one month extension).

item 1.01 item 5.07 item 2.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Bolt Projects Holdings, Inc. incurred loan of $567,130 with Golden Arrow Sponsor, LLC at no interest maturing payable on the date of the consummation of the Company’s initial business combination.

Instrument: loan
Principal: $567,130
Counterparty: Golden Arrow Sponsor, LLC
Rate: no interest
Maturity: payable on the date of the consummation of the Company’s initial business combination
Event: incurrence

Exact text from the filing

on March 17, 2023, the Company issued an unsecured promissory note in the aggregate amount of $567,130 (the “Note”) to Golden Arrow Sponsor, LLC (the “Sponsor”).

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

Bolt Projects Holdings, Inc.: The Company filed a certificate of amendment to its amended and restated certificate of incorporation to extend the date by which it must consummate a business combination from March 19, 2023 to up to December 19, 2023 (effective 2023-03-15).

Change: charter amendment
Effective: 2023-03-15

Exact text from the filing

On March 15, 2023, the Company filed a certificate of amendment to its amended and restated certificate of incorporation (as amended, the “Charter”) which became effective upon filing. A copy of the certificate of amendment to the Charter is attached to this Current Report on Form 8-K as Exhibit 3.1 and is incorporated herein by reference.

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

Bolt Projects Holdings, Inc. amended Investment Management Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-03-15).

Action: amendment
Counterparty: Continental Stock Transfer & Trust Company
Effective: 2023-03-15

Exact text from the filing

on March 15, 2023, Golden Arrow Merger Corp. (the “Company”) and Continental Stock Transfer & Trust Company entered into an amendment to the Investment Management Trust Agreement, dated March 15, 2023, by and between Continental Stock Transfer & Trust Company and the Company (the “Trust Agreement”).

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.7

Bolt Projects Holdings, Inc. shareholders approved Re-election of Class I Directors at the 2023-03-15 meeting.

Proposal: director election
Outcome: passed
Meeting: 2023-03-15

Exact text from the filing

On March 15, 2023, the holders of Class B common stock of the Company re-elected each of Jacob Doft, Brett Barth and Lloyd Dean as Class I directors

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bolt Projects Holdings, Inc. shareholders approved Amend the Charter to extend the date by which the Company has to consummate a business combination for an additional nine months at the 2023-03-15 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2023-03-15

Exact text from the filing

The stockholders approved the proposal to amend the Company’s Charter (the “Charter Amendment”), to extend the date by which the Company has to consummate a business combination for an additional nine months, from March 19, 2023 (the “Termination Date”) to up to December 19, 2023

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bolt Projects Holdings, Inc. shareholders approved Amend the Investment Management Trust Agreement to provide for the Extension at the 2023-03-15 meeting.

Outcome: passed
Meeting: 2023-03-15

Exact text from the filing

The stockholders approved the proposal to amend the Investment Management Trust Agreement, dated as of March 16, 2021, by and between the Company and Continental Stock Transfer & Trust Company and (the “Trust Agreement”), in the form set forth as Annex B to the proxy statement (the “Trust Amendment”), to provide for the Extension to the Extended Date pursuant to the Charter Amendment.

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7 debt financings filed in the last 30 days. Browse all debt financings →

Bolt Projects Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-021809

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