--- schema_version: "secwatch.filing_event.v1" accession: "0001213900-23-035791" form_type: "8-K" ticker: null cik: "0001878074" company_name: "Blue World Acquisition Corp" filed_at: "2023-05-03T23:59:59+00:00" generated_at: "2026-06-16T01:40:32.609199+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Blue World SPAC extends deadline to Feb 2024; 27% of public shares redeemed ## Summary - Shareholders approved up to nine one-month extensions, pushing business combination deadline to Feb 2, 2024. - First monthly extension payment of $194,324 deposited into trust, extending deadline to June 2, 2023. - 2,612,769 Class A ordinary shares (27% of outstanding) were redeemed in connection with the vote. - Sponsor Blue World Holdings issued unsecured promissory note for $194,324; convertible into units at $10/unit. ## SEC filing metadata - accession: 0001213900-23-035791 - form_type: 8-K - cik: 0001878074 - company_name: Blue World Acquisition Corp - filed_at: 2023-05-03T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 1.01, 2.03, 3.02, 5.03, 5.07, 7.01, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/ea177878-8k_blueworld.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001213900-23-035791 - JSON: https://secwatch.observer/filing/0001213900-23-035791.json - Plain text: https://secwatch.observer/filing/0001213900-23-035791.txt ## Key facts - Debt Financings Blue World Acquisition Corp incurred loan of $194,324 with Blue World Holdings Limited at none (non-interest bearing) maturing upon the earlier to occur of (i) the consummation of the Company’s business combination or (ii) the date of expiry of the term of the Company. - Instrument: loan - Principal: $194,324 - Counterparty: Blue World Holdings Limited - Rate: none (non-interest bearing) - Maturity: upon the earlier to occur of (i) the consummation of the Company’s business combination or (ii) the date of expiry of the term of the Company - Event: incurrence source text: In connection with the First Monthly Extension Payment, the Company issued an unsecured promissory note of $194,324 (the “ Note ”) to the Sponsor. The Note bears no interest and is payable in full upon the earlier to occur of (i) the consummation of the Company’s business combination (the “ Business Combination ”) or (ii) the date of expiry of the term of the Company (the “ Maturity Date ”). evidence_url: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm - Governance Changes Blue World Acquisition Corp: Amended charter to extend deadline for business combination from February 2, 2023 to May 2, 2023, with up to nine monthly extensions through February 2, 2024 (effective 2023-02-02). - Change: charter amendment - Effective: 2023-02-02 source text: At the Shareholder Meeting, the shareholders of the Company approved the proposal to amend Company’s Amended and Restated Memorandum and Articles of Association (the “ Charter ”) which previously provided that the Company has until February 2, 2023 to complete a Business Combination, and may elect to extend the period to consummate a Business Combination up to three times, each by an additional three-month extension, for a total of up to nine months to November 2, 2023, be deleted in their entirety and the substitution in their place of the second amended and restated memorandum and articles of association of the Company (the “ Amended Charter ”), which provides that the Company has until May 2, 2023 to complete a Business Combination, and may elect to extend the period to consummate a Business Combination up to nine times, each by an additional Monthly Extension, for a total of up to nine months to February 2, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm - Material Agreements Blue World Acquisition Corp amended Amendment to Investment Management Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-05-02). - Action: amendment - Counterparty: Continental Stock Transfer & Trust Company - Effective: 2023-05-02 source text: etween the Company and Continental Stock Transfer & Trust Company, a New York limited purpose trust company (the “ Trustee ”) to evidence_url: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm - Shareholder Votes Blue World Acquisition Corp shareholders approved Amend the Company's Charter to extend the deadline to complete a Business Combination at the 2023-05-02 meeting. - Proposal: charter amendment - Outcome: passed - Meeting: 2023-05-02 source text: The shareholders approved the proposal to amend the Company’s Charter to provide that the Company has until May 2, 2023 to complete a Business Combination, and may elect to extend the period to consummate a Business Combination up to nine times, each by an additional Monthly Extension, for a total of up to nine months to February 2, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm - Shareholder Votes Blue World Acquisition Corp shareholders approved Amend the Trust Agreement to provide for liquidation extension and sponsor deposits at the 2023-05-02 meeting. - Proposal: charter amendment - Outcome: passed - Meeting: 2023-05-02 source text: The shareholders approved the proposal to amend the Trust Agreement to provide that (a) the Trustee must commence liquidation of the Trust Account by May 2, 2023, or, if further extended by up to nine one-month extensions, up to February 2, 2024, and (b) the Sponsor and/or its designees may make deposit of $0.0295 per public share into the Trust Account for each Monthly Extension. evidence_url: https://www.sec.gov/Archives/edgar/data/1878074/000121390023035791/0001213900-23-035791-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.