Venus Acquisition shareholders approve extension to Dec 11; ~75% of shares redeemed

MicroAlgo Inc.

Extension proposal passed with 4,653,500 votes for, 4 against; abstentions 0.
As of Nov 8, total shares submitted for redemption reached 4,559,459, including 12,064 from extension meeting.
Net redeemed shares stand at 4,522,704, representing 74.76% of outstanding ordinary shares.
Extension provides until Dec 11, 2022 to close business combination with VIYI Algorithm Inc. (to become MicroAlgo Inc.).
High redemption rate severely reduces trust cash available for the post-business combination entity.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

MicroAlgo Inc. shareholders approved Approval to amend Venus’ amended and restated memorandum and articles of association to extend the date by which Venus must consummate a business combination to December 11, 2022 at the 2022-11-10 meeting.

Proposal: charter amendment
Outcome: passed
Meeting: 2022-11-10

Exact text from the filing

Proposal 1: Approval to amend Venus’ amended and restated memorandum and articles of association (the “Amended and Restated Memorandum and Articles of Association”) to extend the date by which Venus must consummate a business combination to December 11, 2022 (the “Extension Proposal” or “Proposal 1”). For Against Abstain 4,653,500 4 0

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MicroAlgo Inc. filing history →

Source: SEC EDGAR

accession 0001829126-22-019398

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