{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-018952","form_type":"8-K/A","ticker":null,"cik":"0001857855","company_name":"Finnovate Acquisition Corp.","filed_at":"2023-05-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.306050+00:00","generated_at":"2026-06-14T16:11:06.205746+00:00","sec_items":["2.01","3.02","5.02","5.03","5.07","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Finnovate closes investment, extends deadline, sees $132.6M in redemptions","bullets":["Shareholders approved extension to May 8, 2024; 12,626,668 Class A shares redeemed for ~$132.6M ($10.50/sh).","Calvin Kung appointed CEO and Chairman; Wang (Tommy) Chiu Wong appointed CFO and director, effective May 8, 2023.","Investor Sunorange deposited $300K into trust with $100K/month commitment through May 2024.","Conversion of Class B to Class A shares resulted in 9,085,831 Class A shares outstanding; Sponsor and designees hold ~47.4%.","Outstanding $550,000 loan from Sponsor canceled; advisory fees reduced upon closing of initial business combination."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-018952","json":"https://secwatch.observer/filing/0001493152-23-018952.json","markdown":"https://secwatch.observer/filing/0001493152-23-018952.md","text":"https://secwatch.observer/filing/0001493152-23-018952.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223018952/0001493152-23-018952-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223018952/form8-ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T16:11:06.205746+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":"4d719a43ca","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/1857855/000149315223018952/0001493152-23-018952-index.htm","confidence":1.0,"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":"5506566a6b","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/1857855/000149315223018952/0001493152-23-018952-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Financial Officer and director"}],"fact_type":"executive_change"},{"claim_id":"c8ef7f666aaef1f19230154b046081936c91ee2b","claim":"Finnovate Acquisition Corp.: Extended the deadline to consummate a Business Combination from May 8, 2023 to May 8, 2024, and amended conversion rights for Class B Ordinary Shares (effective 2023-05-08).","evidence_excerpt":"The disclosure contained in Item 5.07 of this Current Report on Form 8-K is incorporated by reference in this Item 5.03.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223018952/0001493152-23-018952-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":"7e58f35b2ccb677a6e0ee1990e0222e039e6ea2b","claim":"Finnovate Acquisition Corp. underwent a change of control involving Sunorange Limited (closed 2023-05-08).","evidence_excerpt":"On May 8, 2023, the Company completed the closing of the Investment (the \"Closing\") after the Company's shareholders approved of certain proposals discussed below, and after certain closing conditions were met, including but not limited to:","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1857855/000149315223018952/0001493152-23-018952-index.htm","confidence":0.85,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Sunorange Limited"},{"label":"Closing","value":"2023-05-08"}],"fact_type":"ma_transaction"},{"claim_id":"2d09c2ffb7c2596c04f0fcba3682315f036027ce","claim":"Finnovate Acquisition Corp. shareholders approved Amendment to 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 at the 2023-05-08 meeting.","evidence_excerpt":"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/1857855/000149315223018952/0001493152-23-018952-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":"c500f9ac417806ea44e1177606670bf51f7bc713","claim":"Finnovate Acquisition Corp. shareholders approved Extension of the date by which the Company has to consummate a Business Combination from May 8, 2023 to May 8, 2024 at the 2023-05-08 meeting.","evidence_excerpt":"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/1857855/000149315223018952/0001493152-23-018952-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"merger approval"},{"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"}