secwatch.observer — SEC 8-K summary
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Issuer:     Ault Disruptive Technologies Corp (—)
CIK:        0001864032
Form:       8-K
Filed at:   2023-06-16T23:59:59+00:00
Accession:  0001214659-23-008553
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 5.03, 5.07, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ault Disruptive shareholders approve SPAC extension to Feb 2024; 11.4M shares redeemed for $120.5M
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- Stockholders approved charter amendment extending business combination deadline from June 20, 2023 to Sept 20, 2023, with monthly extension options to Feb 20, 2024.
- Public stockholders redeemed 11,353,225 shares at $10.61/share, aggregate $120,510,705, reducing trust to ~$1.56M.
- After redemption, 3,021,775 shares remain outstanding, with 2,875,000 held by sponsor.
- Also approved deletion of net tangible asset redemption limitation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1864032/000121465923008553/0001214659-23-008553-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1864032/000121465923008553/o6142318k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-008553

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