TETE shareholders approve 3-month extension to April 20, 2025; non-redemption deal with investors

Technology & Telecommunication Acquisition Corp

Shareholders approved Charter Amendment to extend business combination deadline by 3 months to April 20, 2025 (39 months post-IPO).
Proposals passed with 4,334,690 votes for, 455,380 against; 80.159% quorum; 1,993,697 ordinary shares redeemed.
Non-Redemption Agreement with investors holding 560,061 shares: they will not redeem; Sponsor forfeits 150,000 shares and Company issues 150,000 new shares at deal close.
Investors may elect cash payment equal to 30% of redemption price on 150,000 shares instead of new shares.
IMTA Amendment formalized to allow liquidation only after 39 months if no business combination.

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

Technology & Telecommunication Acquisition Corp: Extended the business combination deadline from January 20, 2025 to April 20, 2025 (effective 2025-01-20).

Change: charter amendment
Effective: 2025-01-20

Exact text from the filing

Subsequent to the approval by the shareholders of TETE of the Amendment to TETE's Amended and Restated Memorandum and Articles of Association (the " Charter Amendment "), on January 20, 2025, TETE filed the Charter Amendment with the Registrar of Companies in the Cayman Islands. Pursuant to the Charter Amendment, TETE has the right to extend the date by which it has to consummate a business combination by three (3) months from January 20, 2025 to April 20, 2025

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Source: SEC EDGAR

accession 0001493152-25-003656

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