8-K
filed April 20, 2023, 7:59 PM ET
CIK 0001907730
other material
confidence high
sentiment negative
materiality 0.80
Yotta Acquisition shareholders approve 12-month extension; 7.4M shares redeemed
Yotta Acquisition Corp
- Stockholders approved extending business combination deadline from April 22, 2023 to April 22, 2024.
- Trust agreement amended; company may deposit $120,000 per one-month extension into trust.
- 7,414,905 shares were tendered for redemption, representing ~50% of outstanding shares.
- Extension amendment: 9,749,919 FOR, 36,595 AGAINST; trust amendment: 6,538,126 FOR, 36,595 AGAINST.
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
Yotta Acquisition Corp: Amended the Amended and Restated Certificate of Incorporation to extend the Business Combination Period from April 22, 2023 to April 22, 2024 (effective 2023-04-19).
- Change
- charter amendment
- Effective
- 2023-04-19
Exact text from the filing
As approved by its stockholders at the Special Meeting, YOTA filed an amendment to its Amended and Restated Certificate of Incorporation with the Delaware Secretary of State on April 19, 2023 giving YOTA the right to extend the Business Combination Period from April 22, 2023 to April 22, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Yotta Acquisition Corp amended Investment Management Trust Agreement Amendment with Continental Stock Transfer & Trust Company valued at YOTA has the right to extend the time to complete its business combination for a period of 12 months (effective 2023-04-19).
- Action
- amendment
- Counterparty
- Continental Stock Transfer & Trust Company
- Value
- YOTA has the right to extend the time to complete its business combination for a period of 12 months
- Effective
- 2023-04-19
Exact text from the filing
As approved by its stockholders at the special meeting of stockholders held on April 19, 2023 (the “ Special Meeting ”), Yotta Acquisition Corporation (“ YOTA ”) entered into an amendment to the Investment Management Trust Agreement, with Continental Stock Transfer & Trust Company (the “ Trust Amendment ”) dated as of April 19, 2023. Pursuant to the Trust Amendment, YOTA has the right to extend the time for YOTA to complete its business combination (the “ Business Combination Period ”) under the Trust Agreement for a period of 12 months from April 22, 2023 to April 22, 2024 and to the extent YOTA’s Amended and Restated Certificate of Incorporation is amended to extend the Business Combination Period, by depositing $120,000 for each such one-month extension into YOTA’s trust account (“ Trust Account ”).
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yotta Acquisition Corp shareholders approved Extension Amendment at the 2023-04-19 meeting.
- Proposal
- charter amendment
- Outcome
- passed
- Meeting
- 2023-04-19
Exact text from the filing
Stockholders approved the proposal to amend YOTA’s Amended and Restated Certificate of Incorporation, giving YOTA the right to extend the Business Combination Period from April 22, 2023 to April 22, 2024. Adoption of this proposal required approval by the affirmative vote of at least a majority of YOTA’s outstanding shares of common stock. The voting results were as follows: FOR AGAINST ABSTAIN 9,749,919 36,595 20
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Yotta Acquisition Corp shareholders approved Trust Amendment at the 2023-04-19 meeting.
- Outcome
- passed
- Meeting
- 2023-04-19
Exact text from the filing
Stockholders approved the proposal to amend YOTA’s Investment Management Trust Agreement by and between YOTA and Continental Stock Transfer & Trust Company dated April 19, 2022, giving YOTA the right to extend the Business Combination Period from April 22, 2023 to April 22, 2024 and to the extent YOTA’s Amended and Restated Certificate of Incorporation is amended to extend the Business Combination Period by depositing into the Trust Account $120,000 for each one-month extension. Adoption of the Trust Amendment required approval by the affirmative vote of at least 50% of the shares of common stock sold in the IPO. The voting results were as follows: FOR AGAINST ABSTAIN 6,538,126 36,595 140
View on SEC.gov
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