Revelstone Capital to liquidate after failing to complete business combination

Revelstone Capital Acquisition Corp.

Filed charter amendment to extend deadline to May 21, 2024, but board determined it cannot complete any initial business combination.
Company will liquidate and dissolve, redeeming all outstanding public shares from trust account.
Holders of public shares will receive pro rata trust proceeds (less $100k for dissolution expenses).
Record holders must deliver shares to Continental Stock Transfer; beneficial owners in street name need no action.
Redemption expected to be completed as soon as possible; shares trade on Nasdaq under RCAC, RCACU, RCACW.

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

Revelstone Capital Acquisition Corp.: Extended the deadline to complete a business combination to May 21, 2024 (effective 2024-02-21).

Change: charter amendment
Effective: 2024-02-21

Exact text from the filing

filed an amendment to its second amended and restated certificate of incorporation (the “ Charter ”) with the Delaware Secretary of State on February 21, 2024 (the “ Charter Amendment ”), giving the Company the right to extend the date by which it has to complete a business combination to May 21, 2024.

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Source: SEC EDGAR

accession 0001213900-24-017584

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