Ault Disruptive Technologies extends SPAC deadline to Dec 2024, offers reverse redemption

Ault Disruptive Technologies Corp

Shareholders approved extension of business combination deadline from Feb 20, 2024 to Dec 20, 2024.
121,695 shares tendered for redemption; trust per-share value ~$11.72 as of Feb 15, 2024.
Stockholders who elected redemption can reverse by Feb 20, 2024 via DWAC request to transfer agent.
Sponsor holds 2,875,000 of 2,942,180 non-redeemed shares after extension approval.

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

Ault Disruptive Technologies Corp: Amendment to extend the date to complete a business combination from February 20, 2024 to December 20, 2024 (effective 2024-02-20).

Change: charter amendment
Effective: 2024-02-20

Exact text from the filing

The Company proposed yesterday at the Special Meeting, to amend the Company's amended and restated certificate of incorporation to extend the date by which the Company must complete a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination involving the Company and one or more businesses from February 20, 2024 to December 20, 2024 (the “ Extension Amendment Proposal ”). The Extension Amendment Proposal was approved.

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Ault Disruptive Technologies Corp shareholders approved Extension Amendment Proposal to amend the Company's Amended and Restated Certificate of Incorporation to extend the date by which the Company must complete a business combination from February 20, 2024 to December 20, 2024 at the 2024-02-15 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2024-02-15

Exact text from the filing

Proposal No. 1: The Extension Amendment Proposal For Against Abstain 2,883,626 22,015 59

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Source: SEC EDGAR

accession 0001214659-24-003024

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