8-K
filed January 25, 2024, 6:59 PM ET
CIK 0001865701
other material
confidence high
sentiment neutral
materiality 0.60
Keyarch Acquisition Corp: debt financing — Keyarch Acquisition Corp extends deadline to July 27, 2024; sponsor loans up to $150K; 337K shares redeemed
Keyarch Acquisition Corp
- Shareholders approved extension of business combination deadline from Jan 27, 2024 to July 27, 2024.
- Sponsor issued up to $150,000 promissory note to fund monthly trust deposits of $25,000 for up to six months.
- Holders of 337,446 Public Shares redeemed at ~$10.91 per share, total $3.68M; remaining Public Shares 2,039,872.
- Second Charter Amendment filed with Cayman Islands General Registry on Jan 25, 2024.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Keyarch Acquisition Corp incurred loan of up to $150,000 with Keyarch Global Sponsor Limited maturing upon the earlier of (a) date of the consummation of an initial business combination by the Company and (b) the Company’s liquidation.
- Instrument
- loan
- Principal
- up to $150,000
- Counterparty
- Keyarch Global Sponsor Limited
- Maturity
- upon the earlier of (a) date of the consummation of an initial business combination by the Company and (b) the Company’s liquidation
- Event
- incurrence
Exact text from the filing
Keyarch Acquisition Corporation (the “ Company ”), issued a promissory note (the “ Second Extension Note ”) in the aggregate principal amount of up to $150,000 to the Company’s sponsor, Keyarch Global Sponsor Limited
View on SEC.gov
Governance Changes
SEC 8-K Item 5.03/5.05/5.06
confidence 0.9
Keyarch Acquisition Corp: Amended the Company's Amended and Restated Memorandum and Articles of Association to extend the business combination deadline from January 27, 2024 to July 27, 2024, on a month-to-month basis (effective 2024-01-19).
- Change
- charter amendment
- Effective
- 2024-01-19
Exact text from the filing
the Charter Amendment took effect upon approval of the Extension Amendment Proposal
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Keyarch Acquisition Corp entered into Second Extension Note with Keyarch Global Sponsor Limited valued at up to $150,000 (effective 2024-01-25).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Keyarch Global Sponsor Limited
- Value
- up to $150,000
- Effective
- 2024-01-25
Exact text from the filing
On January 25, 2024 Keyarch Acquisition Corporation (the " Company "), issued a promissory note (the " Second Extension Note ") in the aggregate principal amount of up to $150,000 to the Company’s sponsor, Keyarch Global Sponsor Limited, a Cayman Islands limited liability company, or its registered assigns or successors in interest (the " Payee ")
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.98
Keyarch Acquisition Corp shareholders approved Amendment of the Amended and Restated Memorandum and Articles of Association to give the Board the right to extend the date by which the Company must consummate a Business Combination from January 27, 2024 to July 27, 2024 on a month-to-month basis. at the 2024-01-25 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2024-01-25
Exact text from the filing
At the EGM, the Company’s shareholders were presented with a proposal to amend the Company’s Amended and Restated Memorandum and Articles of Association (a) to give the Board the right to extend, on a month-to-month basis, the date by which the Company must consummate a Business Combination from January 27, 2024 to July 27, 2024 (or such earlier date as determined by the Board) by (the “ Extension Amendment Proposal ”).
View on SEC.gov
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