Finnovate Acquisition Corp.

05/12/2025 | Press release | Distributed by Public on 05/12/2025 14:30

Proxy Results (Form 8-K)

Item 5.07 Submission of Matters to a Vote of Security Holders.

On May 6, 2025, the Company held an extraordinary general meeting of shareholders (the "Meeting"). At the Meeting, the following proposals were considered and acted upon by the shareholders of the Company:

(a) a proposal, by way of special resolution, the Company's amended and restated memorandum and articles of association, as adopted by special resolution, dated November 8, 2021 and supplemented by the subsequent amendments dated May 8, 2023, May 2, 2024 and November 6, 2024, respectively, be deleted in its entirety and in substitution in their place of the Company's Second Amended and Restated Memorandum and Articles of Association (the "Articles") which reflects the extension of the period within which the Company must consummate a business combination for six months until November 8, 2025 (i.e. within 48 months from the consummation of the Company's initial public offering), or such earlier date as determined by the Company's board of directors (the "Board"), with immediate effect (such proposal, the "Articles Extension Proposal"); and

(b) a proposal to approve the adjournment of the Meeting to a later date or dates, if necessary or desirable, at the determination of the Board (the "Adjournment Proposal").

The number of votes cast for or against, as well as the number of abstentions as to each proposal, are set forth below.

1. Articles Extension Proposal

For Against Abstain
3,571,244 524 0

Accordingly, the Articles Extension Proposal was approved. As there were sufficient votes at the time of the Meeting to approve the Articles Extension Proposal, the Adjournment Proposal, which had been previously voted on by proxy, was not presented to shareholders at the Meeting.

Shareholders holding 742,834 shares of the Company's Class A ordinary shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company's trust account (the "Trust Account"). As a result, approximately $9.0 million (approximately $12.18 per share) will be removed from the Trust Account to pay such holders.

The Company filed the Articles with the Cayman Islands Registrar of Companies on May 8, 2025. A copy of the Articles is attached hereto as Exhibit 3.1 and is incorporated by reference.

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