Redwoods Acquisition Corp. stockholders approve extension to Dec 2023; 6.1M shares redeemed (41%)

On March 30, 2023, RWOD issued an unsecured, non-interest bearing promissory note in the principal amount of $360,000 (the “ Note ”) to Redwoods Capital LLC, RWOD’s sponsor.

Redwoods Acquisition Corp. (“ RWOD ”) and Continental Stock Transfer & Trust Company entered into an amendment, dated April 4, 2023, to the Investment Management Trust Agreement, dated March 30, 2022, by and between Continental Stock Transfer & Trust Company and RWOD (the “ IMTA Amendment ”).

Proposal to amend RWOD's Amended and Restated Certificate of Incorporation to allow RWOD to extend the date by which RWOD must consummate a business combination (the "Extension") from April 4, 2023 (the date that is 12 months from the closing date of RWOD's initial public offering of units (the "IPO")) to July 4, 2023 (the date that is 15 months from the closing date of the IPO) (the "Amended Date") and on a monthly basis up to five times from the Amended Date to December 4, 2023 (the date that is 20 months from the closing date of the IPO) 11,728,754 1,185,182 0

Proposal to amend the Investment Management Trust Agreement, dated March 30, 2022, by and between RWOD and Continental Stock Transfer & Trust Company (the "Trustee"), to allow RWOD to extend the date on which the Trustee must liquidate the trust account established by RWOD in connection with the IPO (the "trust account") if RWOD has not completed its initial business combination, from April 4, 2023 (the date that is 12 months from the closing date of the IPO) to July 4, 2023 (the date that is 15 months from the closing date of the IPO) and on a monthly basis up to five times from the Amended Date to December 4, 2023 (the date that is 20 months from the closing date of the IPO) by depositing into the trust account $360,000 for the initial three-month Extension and $120,000 per month for each subsequent one-month Extension 11,728,754 1,185,182 0