8-K
filed September 11, 2023, 7:59 PM ET
ticker IGTA
CIK 0001866838
other material
confidence high
sentiment neutral
materiality 0.60
IGTA stockholders approve extension to June 2024; $100k deposited for one-month extension
Inception Growth Acquisition Ltd
- Approximately 1.53M shares redeemed post-meeting; trust balance ~$47.4M.
- $100k deposited into trust to extend business combination deadline from Sept 13 to Oct 13, 2023.
- Charter amendment allows nine one-month extensions through June 13, 2024.
- Over 69% of outstanding shares voted; proposals approved with 4.94M for, 16k against.
- SPAC IPO'd Dec 2021; extension provides additional time to complete a business combination.
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
Inception Growth Acquisition Ltd: Amended amended and restated certificate of incorporation to allow up to nine monthly extensions of business combination deadline to June 13, 2024 (effective 2023-09-08).
- Change
- charter amendment
- Effective
- 2023-09-08
Exact text from the filing
the Company filed the first amendment to the amended and restated certificate of incorporation on September 8, 2023 (the “Charter Amendment”), giving the Company the right to extend the date by which the Company has to consummate a business combination to June 13, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Inception Growth Acquisition Ltd amended Trust Amendment with Continental Stock Transfer & Trust Company valued at $100,000 (effective 2023-09-08).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Value
- $100,000
- Effective
- 2023-09-08
Exact text from the filing
entered into an amendment (the “Trust Amendment”) dated September 8, 2023, to the investment management trust agreement dated December 8, 2021, as amended on March 13, 2023, by and between the Company and Continental Stock Transfer & Trust Company
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Inception Growth Acquisition Ltd shareholders approved Amend the Company’s amended and restated memorandum and articles of association, giving the Company the right to extend the date by which the Company has to consummate a business combination to June 13, 2024. at the 2023-09-08 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-09-08
Exact text from the filing
Stockholders approved the proposal to amend the Company’s amended and restated memorandum and articles of association, giving the Company the right to extend the date by which the Company has to consummate a business combination to June 13, 2024. Approval of the Charter Amendment required the approval of at least fifty percent (50%) of outstanding shares of common stock were present in person or by proxy and entitled to vote thereon at the Meeting. The voting results were as follows: FOR AGAINST ABSTAIN BROKER NON-VOTES 4,937,307 16,315 0 0 1
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
Inception Growth Acquisition Ltd shareholders approved Amend the Company’s investment management trust agreement to provide the Company with the discretion to extend the date on which to commence liquidating the Trust Account by nine times for an additional one month each time from September 13, 2023 to June 13, 2024 by depositing into the trust account at the 2023-09-08 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-09-08
Exact text from the filing
Stockholders approved the proposal to amend the Company’s investment management trust agreement, dated as of December 8, 2021, as amended on March 13, 2023, by and between the Company and Continental Stock Transfer & Trust Company to provide the Company with the discretion to extend the date on which to commence liquidating the Trust Account established in connection with the IPO by nine times for an additional one (1) month each time from September 13, 2023 to June 13, 2024 by depositing into the trust account the lesser of (i) $100,000 and (ii) an aggregate amount equal to $0.04 multiplied by the number of Public Share that has not been redeemed for each one-month extension. Approval of the Trust Amendment required the approval of at least fifty percent (50%) of outstanding shares of common stock present in person or by proxy and entitled to vote thereon at the Meeting. The voting results were as follows: FOR AGAINST ABSTAIN BROKER NON-VOTES 4,937,307 16,315 0 0
View on SEC.gov
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