TenX Keane Acquisition Enters Material Definitive Agreement
Ticker: CTOR · Form: 8-K · Filed: May 21, 2024 · CIK: 1851484
| Field | Detail |
|---|---|
| Company | Tenx Keane Acquisition (CTOR) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $66,667, $0.03 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
TenX Keane Acquisition just signed a big deal, could be a game-changer.
AI Summary
On May 17, 2024, TenX Keane Acquisition entered into a material definitive agreement, likely related to its business as a pharmaceutical preparations company. The filing also indicates the creation of a direct financial obligation or an off-balance sheet arrangement for the registrant.
Why It Matters
This filing signals a significant development for TenX Keane Acquisition, potentially involving new financial commitments or strategic partnerships that could impact its future operations and financial standing.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to performance, financing, and market conditions.
Key Players & Entities
- TenX Keane Acquisition (company) — Registrant
- May 17, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by TenX Keane Acquisition?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into on May 17, 2024.
What type of financial obligation has TenX Keane Acquisition created?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specifics are not detailed.
What is TenX Keane Acquisition's primary industry?
TenX Keane Acquisition is classified under Pharmaceutical Preparations (SIC code 2834).
When was this Form 8-K filed?
This Form 8-K was filed on May 21, 2024.
Where is TenX Keane Acquisition headquartered?
TenX Keane Acquisition is headquartered at 420 Lexington Ave, Suite 2446, New York, NY 10017.
Filing Stats: 898 words · 4 min read · ~3 pages · Grade level 12.8 · Accepted 2024-05-21 15:07:35
Key Financial Figures
- $0.0001 — Market LLC Ordinary shares, par value $0.0001 per share TENK The Nasdaq Stock Mar
- $66,667 — designee, depositing the lesser of (i) $66,667 or (ii) $0.03 per public share, for eac
- $0.03 — iting the lesser of (i) $66,667 or (ii) $0.03 per public share, for each month during
Filing Documents
- form8-k.htm (8-K) — 51KB
- ex10-1.htm (EX-10.1) — 28KB
- 0001493152-24-020866.txt ( ) — 311KB
- tenku-20240517.xsd (EX-101.SCH) — 4KB
- tenku-20240517_def.xml (EX-101.DEF) — 27KB
- tenku-20240517_lab.xml (EX-101.LAB) — 37KB
- tenku-20240517_pre.xml (EX-101.PRE) — 26KB
- form8-k_htm.xml (XML) — 7KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): May 17, 2024 TenX Keane Acquisition (Exact name of registrant as specified in its charter) Cayman Islands 001-41534 N/A (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 420 Lexington Ave , Suite 2446 New York , NY 10170 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (347) 627-0058 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Units, each consisting of one ordinary share and one right TENKU The Nasdaq Stock Market LLC Ordinary shares, par value $0.0001 per share TENK The Nasdaq Stock Market LLC Rights, each right entitling the holder to receive two-tenths of one ordinary share TENKR The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 1.01 Entry into a Material Definitive Agreement. The disclosure included under Item 2.03 is incorporated by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant Pursuant to the third amended and restated memorandum and articles of association (the " Charter ") of TenX Keane Acquisition (the " Company "), the Company had until April 18, 2024 to consummate its business combination, provided however that the Company was able to subsequently extend the period of time to consummate a business combination up to seven (7) times for an additional one (1) month each time from April 18, 2024 to November 18, 2024, if requested by 10XYZ Holdings LP, the sponsor of the Company (the " Sponsor "), subject to the Sponsor or its designee, depositing the lesser of (i) $66,667 or (ii) $0.03 per public share, for each month during the subsequent additional one (1) month extensions from April 18, 2024 to November 18, 2024, that is needed to complete an initial business combination. As previously disclosed, the Company entered into an Agreement and Plan of Merger and Reorganization (the " Merger Agreement "), dated October 23, 2023, by and among the Company, TenX Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company, Citius Pharmaceuticals, Inc., a Nevada corporation (" Citius Pharma "), and Citius Oncology, Inc., a Delaware corporation and wholly owned subsidiary of Citius Pharma (" Citius Oncology "), to acquire Citius Oncology and, pursuant to the terms of the Merger Agreement, the Sponsor designated Citius Pharma as its designee to make the Contribution (as defined below). Additionally, and also as previously disclosed, the first (1 st ) of the possible seven (7) time extensions was effected on April 26, 2024. On that date, Citius Pharma deposited $66,667 into the trust account of the Company to extend the timeline to complete a business combination for an additional one (1) month period from April 18, 2024 to May 18, 2024. Further to the above, on May 17, 2024, Citius Pharma deposited $66,667 into the trust account of the Company (the " Contribution ") to extend the timeline to complete a business combination for an additional one (1) month period from May 18, 2024 to June 18, 2024 (the " Extension "). Such deposit of the Contribution is evidenced by an unsecured promissory note (the " Note ") issued by the Company in the principal amount of $66,667 to Citius Pharma. The Note bears no interest and is repayable in full per the terms of the Merger Agreement. The foregoing description of the Note is qualified in its entirety by reference to the text of the Note,