secwatch.observer — SEC 8-K summary
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Issuer:     GRAPHJET TECHNOLOGY (GTIJF)
CIK:        0001879373
Form:       8-K
Filed at:   2024-03-20T23:59:59+00:00
Accession:  0001493152-24-010687
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 9.01, 5.02, 3.02, 3.03, 5.01, 5.03, 5.06
LLM model:  deepseek-v4-flash:cloud@v2

Graphjet Technology completes SPAC merger with Energem, starts trading on Nasdaq
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879373/000149315224010687/0001493152-24-010687-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879373/000149315224010687/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-010687

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer