secwatch.observer — SEC 8-K summary
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Issuer:     Newbury Street Acquisition Corp (—)
CIK:        0001831978
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001213900-24-017114
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Newbury Street Acquisition amends merger deal with Infinite Reality; sets financial delivery deadlines
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- Target must file registration statement with audited 2022/2023 financials by May 14, 2024 and Q1 2024 unaudited by June 21, 2024.
- If target fails any deadline, Purchaser may terminate after a 45-day cure period.
- Termination fee of $4.5M (cash or stock at $1.25B valuation) payable to Purchaser; aggregate cap of $8M.
- Monthly Extension Fee definition updated; all past extension fees confirmed paid in full.
- Upon failure, certain target covenants cease and Sponsor Letter Agreement terminates.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1831978/000121390024017114/0001213900-24-017114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1831978/000121390024017114/ea0200734-8k425_newbury.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-017114

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