8-K
filed January 5, 2024, 6:59 PM ET
ticker PLMJF
CIK 0001845550
other material
confidence high
sentiment neutral
materiality 0.75
Plum Acquisition Corp. III (PLMJF): M&A transaction — Mercury Capital gains control of SPAC Alpha Partners; new management team appointed
Plum Acquisition Corp. III
- Mercury Capital purchased 3,902,648 founder units from sponsor Alpha Partners for $1, acquiring ~55% of Class B shares and control.
- Former directors and officers (CEO Matt Krna, CFO Sean O'Brien) resigned Dec 28, 2023.
- New directors Michael Dinsdale, Alan Black, David Sable appointed Jan 2; Kanishka Roy appointed CEO/President/Secretary/Treasurer Jan 3.
- Mercury Capital and Palmeira Investment entered subscription agreement for up to $1.5M to fund extension payments and working capital.
- Sponsor agreed to pay $112,500 in extension contributions for Dec 2023 and Jan 2024; Mercury Capital funds same amounts.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tracy R. Wolstencroft resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sean O'Brien resigned as Chief Financial Officer at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- Chief Financial Officer
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matt Krna resigned as Chief Executive Officer at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Scott Grimes resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael D. Ryan resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kanishka Roy was appointed as President, Chief Executive Officer, Secretary and Treasurer at Plum Acquisition Corp. III.
- Action
- appointed
- Role
- President, Chief Executive Officer, Secretary and Treasurer
Exact text from the filing
On January 3, 2024, the Board appointed Kanishka Roy as President, Chief Executive Officer, Secretary and Treasurer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Dinsdale was appointed as member of the Board at Plum Acquisition Corp. III.
- Action
- appointed
- Role
- member of the Board
Exact text from the filing
On January 2, 2024, the holders of the Company’s Class B ordinary shares appointed Michael Dinsdale, Alan Black and David Sable to the Board of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Steve Brotman resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Marcie Vu resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Sable was appointed as member of the Board at Plum Acquisition Corp. III.
- Action
- appointed
- Role
- member of the Board
Exact text from the filing
On January 2, 2024, the holders of the Company’s Class B ordinary shares appointed Michael Dinsdale, Alan Black and David Sable to the Board of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John Rice resigned as member of the Board at Plum Acquisition Corp. III.
- Action
- resigned
- Role
- member of the Board
Exact text from the filing
On December 28, 2023, Michael D. Ryan, Steve Brotman, Scott Grimes, John Rice, Marcie Vu and Tracy R. Wolstencroft resigned as members of the Board, and Matt Krna and Sean O’Brien resigned from their respective positions of Chief Executive Officer and Chief Financial Officer of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Alan Black was appointed as member of the Board at Plum Acquisition Corp. III.
- Action
- appointed
- Role
- member of the Board
Exact text from the filing
On January 2, 2024, the holders of the Company’s Class B ordinary shares appointed Michael Dinsdale, Alan Black and David Sable to the Board of the Company.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
Plum Acquisition Corp. III underwent a change of control involving Mercury Capital, LLC (closed 2023-12-28).
- Action
- change of control
- Counterparty
- Mercury Capital, LLC
- Closing
- 2023-12-28
Exact text from the filing
Following the Closing, Mercury Capital beneficially owns approximately 55% of the Company's outstanding Class B shares, has the power to appoint all members of the Board other than the representative designated by the Investor, and may therefore be deemed to control the Company.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Plum Acquisition Corp. III entered into Purchase Agreement with Alpha Partners Technology Merger Sponsor LLC and Mercury Capital, LLC (effective 2023-12-27).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Alpha Partners Technology Merger Sponsor LLC and Mercury Capital, LLC
- Effective
- 2023-12-27
Exact text from the filing
On December 27, 2023, Alpha Partners Technology Merger Corp. (the “Company”), Alpha Partners Technology Merger Sponsor LLC (“Alpha Partners Sponsor”) and Mercury Capital, LLC (“Mercury Capital”) entered into a purchase agreement (the “Purchase Agreement”), pursuant to which, at a closing on December 28, 2023 (the “Closing”), Mercury Capital (i) purchased 3,902,648 founder units of the Company from Alpha Partners Sponsor
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Plum Acquisition Corp. III entered into Subscription Agreement with Palmeira Investment Limited (the “Investor”) valued at $1,500,000 (effective 2024-01-03).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Palmeira Investment Limited (the “Investor”)
- Value
- $1,500,000
- Effective
- 2024-01-03
Exact text from the filing
On January 3, 2024, the Company, Mercury Capital and Palmeira Investment Limited (the “Investor”) entered into a subscription agreement (the “Subscription Agreement”), pursuant to which Mercury Capital may raise up to $1,500,000 from the Investor
View on SEC.gov
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