Energem Corp. shareholders approve extension of business combination deadline to Feb 18, 2024; ~678K shares redeemed

GRAPHJET TECHNOLOGY

Shareholders voted 78.9% in favor to extend business combination deadline from Aug 18, 2023 to Feb 18, 2024.
In connection with the vote, 678,549 Class A shares redeemed at ~$10.95/share, total payout ~$7.47 million.
After redemptions, 1,216,932 public shares remain outstanding; trust account cash is ~$13.39 million.
Company deposited ~$54,762 ($0.045/share) into trust for first monthly extension.
Trust agreement amended to reflect extension; company must complete business combination by Feb 18, 2024 or liquidate.

item 1.01 item 3.03 item 5.03 item 5.07 item 8.01 item 9.01

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

GRAPHJET TECHNOLOGY: Third Amended and Restated Articles of Association approved to extend business combination deadline from August 18, 2023 to February 18, 2024 through up to six one-month extensions (effective 2023-08-10).

Change: charter amendment
Effective: 2023-08-10

Exact text from the filing

The shareholders of the Company approved the Third Amended and Restated Articles of Association of the Company at the August 10, 2023, Extraordinary General Meeting, giving the Company the right to extend the date by which the Company must (i) consummate a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (a “business combination”), (ii) cease its operations if it fails to complete such business combination, and (iii) redeem or repurchase 100% of the Company’s Class A ordinary shares included as part of the units sold in the Company’s IPO that closed on November 18, 2021 from August 18, 2023 (the “Termination Date”) by up to six (6) one-month extensions to February 18, 2024 (the “Extension Amendment Proposal”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GRAPHJET TECHNOLOGY amended Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-08-10).

Action: amendment
Counterparty: Continental Stock Transfer & Trust Company
Effective: 2023-08-10

Exact text from the filing

f Trust Agreement On November 18, 2021, Energem Corp. (the “Company”), consummated its initial public offering (the “IPO”).

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GRAPHJET TECHNOLOGY shareholders approved Trust Amendment Proposal - amend the Trust Agreement to extend the liquidation date at the 2023-08-10 meeting.

Outcome: passed
Meeting: 2023-08-10

Exact text from the filing

The Shareholders approved the Trust Amendment Proposal, by a 78.90% approval vote, pursuant to which the Trust Agreement (by and between the Company and Continental was amended to extend the date on which Continental must liquidate the Trust Account established in connection with the IPO if the Company has not completed its initial business combination, from August 18, 2023 to no later than February 18, 2024. The following is a tabulation of the voting results: Energem Corp. Ordinary Shares: Votes For Votes Against Abstentions 4,180,705 (78.90%) 225,000 (4.25%) 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

GRAPHJET TECHNOLOGY shareholders approved Extension Amendment Proposal - extend the date by which the Company must consummate a business combination at the 2023-08-10 meeting.

Proposal: merger approval
Outcome: passed
Meeting: 2023-08-10

Exact text from the filing

The Shareholders approved the Extension Amendment Proposal, by a 78.90% approval vote, giving the Company the right to extend the date by which the Company must (i) consummate a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (a “business combination”), (ii) cease its operations if it fails to complete such business combination, and (iii) redeem or repurchase 100% of the Company’s Class A ordinary shares included as part of the units sold in the Company’s IPO that closed on November 18, 2021 from August 18, 2023 (the “Termination Date”) by up to six (6) one-month extensions to February 18, 2024. The following is a tabulation of the voting results: Energem Corp. Ordinary Shares: Votes For Votes Against Abstentions 4,180,705 (78.90%) 225,000 (4.25%) 0

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Source: SEC EDGAR

accession 0001493152-23-029127

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