Redemption Rights and Shareholder Actions - The company has a redemption right for public shareholders upon completion of the initial business combination, allowing them to redeem all or a portion of their Class A ordinary shares [147]. - The company will not redeem public shares if it would cause net tangible assets to fall below $5,000,001 prior to or upon consummation of an initial business combination [137]. - Shareholders are restricted from redeeming more than 3,450,000 shares, or 15% of the shares sold in the initial public offering, without prior consent [153]. - The company intends to conduct redemptions in conjunction with a shareholder vote unless not required by law or stock exchange listing requirements [147]. - The tender offer will remain open for at least 20 business days, and the company cannot complete the initial business combination until the expiration of this period [152]. - The company will provide proxy materials to public shareholders if seeking shareholder approval for the initial business combination [150]. - Shareholders will not be entitled to vote or redeem shares in connection with any extension of the business combination deadline [162]. Financial Projections and Obligations - If the proceeds in the trust account fall below $10.30 per public share, the actual redemption price may be less than this amount [140]. - The per-public-share redemption amount upon dissolution is projected to be $10.30, but actual amounts may vary due to creditor claims [165]. - The company will seek to minimize creditor claims against the trust account by having business partners waive any rights to funds held in the trust account [168]. - If the initial business combination is not completed, public shareholders who elected to redeem their shares will not receive any funds from the trust account [159]. - The company has until July 7, 2023, to complete its initial business combination, or it will cease operations and redeem public shares at a per-share price of $10.30 [161]. - If the company fails to complete the initial business combination within the prescribed time frame, it will liquidate and dissolve, subject to creditor claims [161]. Corporate Structure and Reporting - The company is classified as an "emerging growth company" and is eligible for certain reporting exemptions under the JOBS Act [176]. - The company will remain an emerging growth company until it meets specific revenue or market value thresholds, including total annual gross revenue of at least $1.235 billion [177]. - The company has no current intention of suspending its reporting obligations under the Exchange Act prior to the completion of its initial business combination [175]. - The company expects independent directors to take legal action against the sponsor to enforce indemnification obligations if necessary [140]. - The company will provide audited financial statements of the prospective business combination partner as part of the proxy solicitation materials [174].
Cartica Acquisition p(CITE) - 2022 Q4 - Annual Report