8-K
filed July 14, 2023, 7:59 PM ET
CIK 0001853580
other material
confidence high
sentiment neutral
materiality 0.60
Portage Fintech enters non-redemption deals; appoints new CEO, CFO, Co-Presidents
Perception Capital Corp. III
- Non-redemption agreements with unaffiliated holders covering 200,000 Class A shares to support 36-month extension.
- Sponsor to forfeit 60,000 Class B shares; holders receive equal number of Class A shares at business combination close.
- Rick Gaenzle appointed CEO, Corey Campbell CFO, Tao Tan and Jim Sheridan as Co-Presidents, effective by July 21, 2023.
- New officers bring private equity and operational experience, replacing prior management team.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jim Sheridan was appointed as Co-President at Perception Capital Corp. III.
- Action
- will join
- Role
- Co-President
Exact text from the filing
Tao Tan and Jim Sheridan will join the Company as Co-Presidents
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tao Tan was appointed as Co-President at Perception Capital Corp. III.
- Action
- will join
- Role
- Co-President
Exact text from the filing
Tao Tan and Jim Sheridan will join the Company as Co-Presidents
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Adam Felesky departed as Chief Executive Officer at Perception Capital Corp. III.
- Role
- Chief Executive Officer
Exact text from the filing
Rick Gaenzle will replace Adam Felesky as Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ajay Chowdhery departed as Chief Financial Officer at Perception Capital Corp. III.
- Role
- Chief Financial Officer
Exact text from the filing
Corey Campbell will replace Ajay Chowdhery as Chief Financial Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Rick Gaenzle was appointed as Chief Executive Officer at Perception Capital Corp. III.
- Action
- will replace
- Role
- Chief Executive Officer
Exact text from the filing
Rick Gaenzle will replace Adam Felesky as Chief Executive Officer
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Corey Campbell was appointed as Chief Financial Officer at Perception Capital Corp. III.
- Action
- will replace
- Role
- Chief Financial Officer
Exact text from the filing
Corey Campbell will replace Ajay Chowdhery as Chief Financial Officer
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Perception Capital Corp. III entered into Non-Redemption Agreement with certain unaffiliated third parties (effective 2023-07-14).
- Action
- entry
- Counterparty
- certain unaffiliated third parties
- Effective
- 2023-07-14
Exact text from the filing
On July 14, 2023, Portage Fintech Acquisition Corporation (the “ Company ”) and PFTA I LP, an Ontario limited partnership (the “ Sponsor ”), entered into non-redemption agreements (each, a “ Non-Redemption Agreement ”) with certain unaffiliated third parties (each, a “ Holder ,” and collectively, the “ Holders ”) in exchange for the Holder or Holders agreeing either not to request redemption in connection with the Extension (as defined below) or to reverse any previously submitted redemption demand in connection with the Extension with respect to an aggregate of 200,000 Class A ordinary shares
View on SEC.gov
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