TenX Keane Acquisition Calls Extraordinary General Meeting for January 17, 2024
Ticker: CTOR · Form: DEF 14A · Filed: Jan 8, 2024 · CIK: 1851484
Complexity: simple
Sentiment: neutral
Topics: TenX Keane Acquisition, DEF 14A, Shareholder Meeting, Business Combination, Extension Amendment
TL;DR
<b>TenX Keane Acquisition is holding an extraordinary general meeting on January 17, 2024, to vote on extending the deadline for a business combination.</b>
AI Summary
TenX Keane Acquisition (CTOR) filed a Proxy Statement (DEF 14A) with the SEC on January 8, 2024. TenX Keane Acquisition will hold an extraordinary general meeting on January 17, 2024, at 9:30 a.m. EST. The meeting will be held at the company's offices in New York and virtually via webcast. Shareholders will vote on a proposal to amend the company's memorandum and articles of association. The amendment aims to extend the deadline for the company to consummate a business combination. This meeting replaces the 2023 annual general meeting and satisfies Nasdaq requirements.
Why It Matters
For investors and stakeholders tracking TenX Keane Acquisition, this filing contains several important signals. Shareholders need to vote on extending the company's deadline to complete a business combination, which is crucial for its continued operation and potential future value. The meeting serves to fulfill Nasdaq's annual meeting requirement and provides an opportunity for shareholders to engage with management.
Risk Assessment
Risk Level: — TenX Keane Acquisition shows moderate risk based on this filing. The filing is a routine proxy statement for a shareholder meeting and does not contain significant financial or operational disclosures that would indicate immediate high risk.
Analyst Insight
Shareholders should review the proposed amendments to the company's articles of association and vote on the Extension Amendment Proposal to determine the future direction of TenX Keane Acquisition.
Key Numbers
- January 17, 2024 — Meeting Date (Extraordinary General Meeting date.)
- 9:30 a.m. Eastern Standard Time — Meeting Time (Time of the Extraordinary General Meeting.)
- 372208 — Company Number (TenX Keane Acquisition's company number.)
Key Players & Entities
- TenX Keane Acquisition (company) — Registrant and filer of the proxy statement.
- Nasdaq Stock Market LLC (company) — The stock exchange whose annual meeting requirement is being satisfied.
- January 17, 2024 (date) — Date of the extraordinary general meeting.
- 420 Lexington Avenue, Suite 2446, New York, NY 10170 (location) — Physical location of the extraordinary general meeting.
FAQ
When did TenX Keane Acquisition file this DEF 14A?
TenX Keane Acquisition filed this Proxy Statement (DEF 14A) with the SEC on January 8, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by TenX Keane Acquisition (CTOR).
Where can I read the original DEF 14A filing from TenX Keane Acquisition?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by TenX Keane Acquisition.
What are the key takeaways from TenX Keane Acquisition's DEF 14A?
TenX Keane Acquisition filed this DEF 14A on January 8, 2024. Key takeaways: TenX Keane Acquisition will hold an extraordinary general meeting on January 17, 2024, at 9:30 a.m. EST.. The meeting will be held at the company's offices in New York and virtually via webcast.. Shareholders will vote on a proposal to amend the company's memorandum and articles of association..
Is TenX Keane Acquisition a risky investment based on this filing?
Based on this DEF 14A, TenX Keane Acquisition presents a moderate-risk profile. The filing is a routine proxy statement for a shareholder meeting and does not contain significant financial or operational disclosures that would indicate immediate high risk.
What should investors do after reading TenX Keane Acquisition's DEF 14A?
Shareholders should review the proposed amendments to the company's articles of association and vote on the Extension Amendment Proposal to determine the future direction of TenX Keane Acquisition. The overall sentiment from this filing is neutral.
How does TenX Keane Acquisition compare to its industry peers?
TenX Keane Acquisition is a special purpose acquisition company (SPAC) that needs to complete a business combination within a specified timeframe, often requiring shareholder approval for extensions.
Are there regulatory concerns for TenX Keane Acquisition?
The filing is a proxy statement (DEF 14A) filed under the Securities Exchange Act of 1934, adhering to SEC regulations for shareholder communications and voting.
Risk Factors
- Extension Amendment Proposal [medium — regulatory]: Shareholders will vote on amending the company's articles of association to extend the deadline for consummating a business combination, which is a critical step for the company's future.
Industry Context
TenX Keane Acquisition is a special purpose acquisition company (SPAC) that needs to complete a business combination within a specified timeframe, often requiring shareholder approval for extensions.
Regulatory Implications
The filing is a proxy statement (DEF 14A) filed under the Securities Exchange Act of 1934, adhering to SEC regulations for shareholder communications and voting.
What Investors Should Do
- Review the proposed Extension Amendment and its implications for the company's business combination timeline.
- Attend the virtual webcast or in-person meeting on January 17, 2024, to ask questions and cast your vote.
- Understand the voting requirements for the Extension Amendment Proposal as outlined in the proxy statement.
Key Dates
- 2024-01-17: Extraordinary General Meeting — Shareholders will vote on proposals, including extending the business combination deadline.
Glossary
- Extraordinary General Meeting
- A special meeting of shareholders called for a specific purpose, distinct from the regular annual meeting. (This meeting is being held to address the critical issue of extending the company's deadline to complete a business combination.)
- Extension Amendment
- A proposed change to the company's governing documents to extend the date by which it must complete a business combination. (This amendment is the primary purpose of the shareholder meeting and directly impacts the company's operational timeline.)
- A&R Memorandum and Articles
- Amended and Restated Memorandum and Articles of Association, the company's governing corporate documents. (These documents outline the company's structure, rights, and obligations, and are being amended via the Extension Amendment.)
Year-Over-Year Comparison
This filing is a DEF 14A proxy statement, indicating a shareholder meeting is being called. Previous filings would likely detail the company's formation and initial public offering.
Filing Stats: 4,672 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-01-08 16:46:18
Key Financial Figures
- $660,000 — ne, must deposit into the Trust Account $660,000 ($0.10 per share), on or prior to the d
- $0.10 — eposit into the Trust Account $660,000 ($0.10 per share), on or prior to the date of
- $1,980,000 — nth extension (or up to an aggregate of $1,980,000, or $0.30 per share, if we extend for t
- $0.30 — or up to an aggregate of $1,980,000, or $0.30 per share, if we extend for the full ni
- $50,000 — pany to pay income taxes) (less up to US$50,000 of interest to pay dissolution expenses
- $10.90 — nary General Meeting) was approximately $10.90. The closing price of the Company&rsquo
- $11.21 — ordinary shares on the record date was $11.21. The Company cannot assure shareholders
- $5,000,001 — Amendment if we would not have at least $5,000,001 of net tangible assets following approv
Filing Documents
- formdef14a.htm (DEF 14A) — 1195KB
- formdef14a_001.jpg (GRAPHIC) — 2KB
- formdef14a_002.jpg (GRAPHIC) — 1KB
- 0001493152-24-001720.txt ( ) — 1201KB
From the Filing
DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A (RULE 14A-101) Proxy the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to §240.14a-12 TenX Keane Acquisition (Name of Registrant as Specified in Its Charter) N/A (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 TENX KEANE ACQUISITION A Cayman Islands Exempted Company (Company Number 372208) 420 Lexington Ave, Suite 2446 New York, NY 10170 LETTER TO SHAREHOLDERS January 8, 2024 To the Shareholders of TenX Keane Acquisition: You are cordially invited to attend an extraordinary general meeting of Shareholders (the “ Extraordinary General Meeting ”) of TenX Keane Acquisition (the “ Company ,” “ TenX ,” ‘“ we ,” “ us ” or “ our ”) to be held at the offices of the Company, located at 420 Lexington Avenue, Suite 2446, New York, NY 10170, on January 17, 2024, at 9:30 a.m. Eastern Standard Time or at such other time, on such other date and at such other place to which the meeting may be postponed or adjourned. This Extraordinary General Meeting is being held in lieu of the 2023 annual general meeting, and shareholders will have the opportunity to present questions to the management of the Company at the Extraordinary General Meeting, which is being held, in part, to satisfy the annual general meeting requirement of the Nasdaq Stock Market LLC. The formal meeting and proxy statement for the Extraordinary General Meeting are attached. The Extraordinary General Meeting will also be held virtually. Rather than attending in person, we encourage you to attend via live webcast at https://web.lumiagm.com/279617443 (password tenx2024). The Extraordinary General Meeting will be held for the purposes of considering and voting upon the following proposals: 1. The Extension Amendment Proposal : a proposal, by special resolution, to amend (the “ Extension Amendment ”) the Company’s Amended and Restated Memorandum and Articles of Association (the “ A&R Memorandum and Articles ”) in their entirety and the substitution in their place of the third amended and restated memorandum and articles of association of the Company in the form attached as Annex A hereto (the “ Third A&R Memorandum and Articles ”), which provides that the Company may elect to extend the date by which the Company has to consummate a business combination (the “ Combination Period ”) for a total of eight (8) times, as follow: (i) one (1) time for an additional three (3) months from January 18, 2024 to April 18, 2024, and subsequently (iii) seven (7) times for an additional one (1) month each time from April 18, 2024 to November 18, 2024, if requested by the Sponsor (as defined herein) and upon two calendar days’ advance notice prior to the applicable deadline (such proposal, the “ Extension Amendment Proposal ”); 2. The Auditor Ratification Proposal: a proposal, by ordinary resolution, to ratify the appointment of Marcum LLP as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2023 (the “ Auditor Ratification Proposal ”); and 3. The Adjournment Proposal : a proposal, by ordinary resolution, to adjourn the Extraordinary General Meeting to a later date or dates (the “ Adjournment ”), if necessary, (i) to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extraordinary General Meeting, there are insufficient Ordinary Shares represented to approve the Extension Amendment Proposal or the Auditor Ratification Proposal, (ii) if the holders of TenX’s public shares (the “Public Shareholders”) have elected to redeem an amount of shares in connection with the Extension Amendment such that TenX would not adhere to the continued listing requirements of the Nasdaq Stock Market LLC (“Nasdaq”), or (iii) if the Board determines before the Extraordinary General Meeting that it is not necessary or no longer desirable to proceed with the other proposals (the “ Adjournment Proposal ” ). Each of the Extension Amendment Proposal, the Auditor Ratification Proposal and the Adjournment Proposal is more fully described in the accompanying proxy statement. 2 THE BOARD UNANIMOUS