{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-016701","form_type":"8-K","ticker":null,"cik":"0001857855","company_name":"Finnovate Acquisition Corp.","filed_at":"2023-05-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.306513+00:00","generated_at":"2026-06-15T02:49:00.387493+00:00","sec_items":["2.01","3.02","5.02","5.03","5.07","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Finnovate closes investment by Sunorange, extends deadline to May 2024, appoints new CEO and CFO","bullets":["Investment closed: Sunorange acquires interests in 3.56M Class B shares and 6.16M private warrants; new management effective.","Shareholders approved charter amendment extending business combination deadline from May 8, 2023 to May 8, 2024.","12,626,668 Class A shares redeemed; remaining trust account funded with $300K deposit plus $100K/month extension commitment.","Calvin Kung appointed CEO and Chairman; Wang (Tommy) Chiu Wong appointed CFO and director, effective May 8, 2023.","Conversion of 4.24M Class B shares to Class A shares; resulting in ~47.4% holder concentration."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-016701","json":"https://secwatch.observer/filing/0001493152-23-016701.json","markdown":"https://secwatch.observer/filing/0001493152-23-016701.md","text":"https://secwatch.observer/filing/0001493152-23-016701.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T02:49:00.387493+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"315a8a4f06","claim":"Calvin Kung was appointed as Chief Executive Officer and Chairman of the Board at Finnovate Acquisition Corp..","evidence_excerpt":"Effective upon the Closing, Calvin Kung was appointed Chief Executive Officer of the Company and Chairman of the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer and Chairman of the Board"}],"fact_type":"executive_change"},{"claim_id":"e8499de7c0","claim":"Wang (Tommy) Chiu Wong was appointed as Chief Financial Officer and director at Finnovate Acquisition Corp..","evidence_excerpt":"Effective upon the Closing, Wang (Tommy) Chiu Wong was appointed Chief Financial Officer of the Company and as a director of the Board.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Financial Officer and director"}],"fact_type":"executive_change"},{"claim_id":"d365e1e5f84e6b4be3bc13c661294d93c7ad5ce8","claim":"Finnovate Acquisition Corp.: Extended the deadline for business combination from May 8, 2023 to May 8, 2024 (effective 2023-05-08).","evidence_excerpt":"amend the Company’s amended and restated memorandum and articles of association (the “ Charter Amendment ”) to: (i) extend the date by which the Company has to consummate a Business Combination from May 8, 2023 to May 8, 2024","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-05-08"}],"fact_type":"governance_change"},{"claim_id":"dbd57f0a31d2a079fc3839607c11e6f21288802b","claim":"Finnovate Acquisition Corp.: Amended articles to allow Class B shareholders to convert to Class A shares prior to business combination at holder's election (effective 2023-05-08).","evidence_excerpt":"amend the Company’s amended and restated memorandum and articles of association entitle holders of Class B Ordinary Shares to convert such shares into Class A Ordinary Shares prior to the closing of a business combination at the election of the holder","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-05-08"}],"fact_type":"governance_change"},{"claim_id":"9eee8624e78f074b34f698ee0bbb031b6bf625bc","claim":"Finnovate Acquisition Corp. shareholders approved Articles Extension Proposal at the 2023-05-08 meeting.","evidence_excerpt":"The final voting results for the Articles Extension Proposal were as follows: For Against Abstain 14,780,469 301,669 63,205","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"charter amendment"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-05-08"}],"fact_type":"shareholder_vote"},{"claim_id":"cad6d33625bed41bc8375eaeededb529cabaa816","claim":"Finnovate Acquisition Corp. shareholders approved Conversion Amendment Proposal at the 2023-05-08 meeting.","evidence_excerpt":"The final voting results for the Conversion Amendment Proposal were as follows: For Against Abstentions 15,065,518 16,620 63,205","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223016701/0001493152-23-016701-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"charter amendment"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-05-08"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}