Corporate ActionJun 5, 2026, 04:26 PM
Tavia Acquisition Corp. Extends Deadline to March 2027; $76.4M Redemptions
AI Summary
Tavia Acquisition Corp. shareholders approved an amendment to extend the deadline for its initial business combination from June 5, 2026, to March 5, 2027. In connection with this extension, public shareholders redeemed 7,167,225 ordinary shares for approximately $76.4 million, leaving approximately $46.2 million in the Trust Account. The company also issued an unsecured promissory note for up to $540,000 to its sponsor to fund monthly contributions to the Trust Account.
Key Highlights
- Shareholders approved extending the business combination deadline to March 5, 2027.
- 7,167,225 Ordinary Shares were redeemed for approximately $76.4 million.
- The Trust Account balance after redemptions is approximately $46.2 million.
- 8,753,608 Ordinary Shares remain outstanding post-redemption.
- Company issued an unsecured promissory note for up to $540,000 to its sponsor.
- The sponsor will contribute up to $60,000 monthly to the Trust Account via the note.
- The Articles Amendment Proposal was approved with 10,670,952 votes For.
Price Impact
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