8-K
filed January 12, 2024, 6:59 PM ET
CIK 0001820175
other material
confidence high
sentiment neutral
materiality 0.35
OCA Acquisition Corp.: debt financing — OCA Acquisition Corp. extends business combination deadline to Feb 20, 2024; ~$9.78M redeemed
OCA Acquisition Corp.
- Stockholders approved charter amendment to extend deadline to Feb 20, 2024, with up to 11 monthly extensions to Jan 20, 2025.
- Redemption limitation removed; holders of ~902k Class A shares redeemed at ~$10.83/share for ~$9.78M total.
- Sponsor converted 300,000 Class B shares into Class A shares and waived trust account claims on those shares.
- Sponsor issued unsecured promissory note of up to $1,080,000 to fund trust account deposits; initial $90,000 funded, additional $90k per monthly extension.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
OCA Acquisition Corp. incurred loan of $1,080,000 with Sponsor at does not bear interest maturing matures upon closing of OCA's initial business combination.
- Instrument
- loan
- Principal
- $1,080,000
- Counterparty
- Sponsor
- Rate
- does not bear interest
- Maturity
- matures upon closing of OCA's initial business combination
- Event
- incurrence
Exact text from the filing
on January 11, 2024, OCA issued an unsecured promissory note in the principal amount of $1,080,000 (the “ Note ”) to the Sponsor. The Note does not bear interest and matures upon closing of OCA’s initial business combination (a “ Business Combination ”).
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
OCA Acquisition Corp.: Stockholders approved the Charter Amendment (Extension Amendment and Redemption Limitation Amendment) at the Extension Meeting on January 9, 2024 (effective 2024-01-09).
- Change
- charter amendment
- Effective
- 2024-01-09
Exact text from the filing
On January 9, 2024, OCA held the Extension Meeting to approve an amendment to OCA’s amended and restated certificate of incorporation
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
OCA Acquisition Corp.: Amendment to extend the business combination deadline from January 20, 2024 to February 20, 2024, with option for monthly extensions up to January 20, 2025, and to remove the $5,000,001 net tangible asset redemption limitation (effective 2024-01-11).
- Change
- charter amendment
- Effective
- 2024-01-11
Exact text from the filing
OCA filed the Charter Amendment with the Delaware Secretary of State.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
OCA Acquisition Corp. shareholders approved Extension Amendment Proposal at the 2024-01-09 meeting.
- Outcome
- passed
- Meeting
- 2024-01-09
Exact text from the filing
The voting results for the Extension Amendment Proposal were as follows: The Extension Amendment Proposal For Against Abstain 5,636,636 610,656 0
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
OCA Acquisition Corp. shareholders approved Redemption Limitation Amendment Proposal at the 2024-01-09 meeting.
- Outcome
- passed
- Meeting
- 2024-01-09
Exact text from the filing
The Redemption Limitation Amendment Proposal For Against Abstain 5,647,085 600,207 0
View on SEC.gov
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