GRAPHJET TECHNOLOGY (GTIJF): M&A transaction — Graphjet Technology completes SPAC merger with Energem, starts trading on Nasdaq

GRAPHJET TECHNOLOGY

Consideration: 138.8M shares valued at ~$1.38B; $8.5M redeemed at $11.52/share from trust.
PIPE investment of $2.5M for 250K shares; proceeds used for transaction expenses.
Combined entity begins trading Mar 15: GTI on Nasdaq, GTIWW on OTC market.
Former Graphjet shareholders own ~95.2%, Sponsor 2.35%, public 0.20%.
Plans $400M manufacturing facility for 10K tons graphite/year; first production Q1 FY2025.

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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: Adoption of Amended & Restated Memorandum of Association effective as of Closing Date.

Change: charter amendment

Exact text from the filing

The shareholders of Energem approved the Amendment & Restated Memorandum of Association of Graphjet Technology (the “ M&A ”) at the Special Meeting. In connection with the Closing, Energem adopted the M&A effective as of the Closing Date.

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

GRAPHJET TECHNOLOGY: Energem ceased being a shell company as a result of the Business Combination.

Change: shell status

Exact text from the filing

As a result of the Business Combination, Energem ceased being a shell company.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

GRAPHJET TECHNOLOGY underwent a change of control involving Graphjet Technology Sdn. Bhd. for approximately $1,380,000,000 (closed 2024-03-14).

Action: change of control
Counterparty: Graphjet Technology Sdn. Bhd.
Consideration: approximately $1,380,000,000
Closing: 2024-03-14

Exact text from the filing

Pursuant to the terms of the SPA, the total consideration for the Business Combination and related transactions (the “ Exchange Consideration ”) was approximately $1,380,000,000.

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266 governance changes filed in the last 30 days. Browse all governance changes →

GRAPHJET TECHNOLOGY filing history →

Source: SEC EDGAR

accession 0001493152-24-010687

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