Cactus Acquisition Corp. 1 Ltd Reports Director/Officer Changes

TL;DR

Cactus Acquisition Corp. 1 Ltd filed an 8-K on 3/11/24 detailing leadership changes and compensation.

AI Summary

Cactus Acquisition Corp. 1 Limited filed an 8-K on March 11, 2024, reporting changes in directors and officers, and compensatory arrangements. The filing details the election of new directors and the appointment of certain officers, alongside information regarding their compensation.

Why It Matters

Changes in a company's leadership and compensation structures can signal shifts in strategy or operational focus, impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing primarily concerns routine corporate governance and executive appointments, with no immediate financial implications disclosed.

Key Players & Entities

• Cactus Acquisition Corp. 1 Limited (company) — Registrant
• March 11, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — LC Class A ordinary shares, par value $0.0001 per share CCTS The Nasdaq Stock Mar
• $11.50 — ordinary share at an exercise price of $11.50 CCTSW The Nasdaq Stock Market LLC

Filing Documents

• d768535d8k.htm (8-K) — 29KB
• 0001193125-24-064947.txt ( ) — 195KB
• cctsu-20240311.xsd (EX-101.SCH) — 4KB
• cctsu-20240311_def.xml (EX-101.DEF) — 14KB
• cctsu-20240311_lab.xml (EX-101.LAB) — 24KB
• cctsu-20240311_pre.xml (EX-101.PRE) — 15KB
• d768535d8k_htm.xml (XML) — 8KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 11, 2024 CACTUS ACQUISITION CORP. 1 LIMITED (Exact Name of Registrant as Specified in its Charter) Cayman Islands 001-40981 N/A (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 4B Cedar Brook Drive Cranbury , New Jersey 08512 (Address of Principal Executive Offices) (Zip Code) ( 609 ) 495-2222 Registrant's telephone number, including area code 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 of the registrant under any of the following provisions (see General Instruction A.2. below): 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 Class A ordinary share and one-half redeemable warrant CCTSU The Nasdaq Stock Market LLC Class A ordinary shares, par value $0.0001 per share CCTS The Nasdaq Stock Market LLC Redeemable warrants, each warrant exercisable for one Class A ordinary share at an exercise price of $11.50 CCTSW 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. Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers, Compensatory Arrangements of Certain Officers. Appointment of New Directors On February 23, 2024, effective upon their appointment, the Company's board of directors determined that each of Emmanuel Meyer, Huiyan Geng and Joseph Thomassen (collectively, the " New Directors ") is an independent director under the listing rules of Nasdaq. As previously disclosed, Mr. Meyer and Ms. Geng will serve on the audit committee, along with Mr. Thomassen, who replaced Mr. Shulkin. Ms. Geng will act as the "financial expert" and serve as chairman of the audit committee. Mr. Meyer and Mr. Thomassen will comprise the compensation committee, replacing all of the former members of such committee. Mr. Thomassen will serve as chairman of the compensation committee. As with all current directors of the Company, the New Directors will not be party to or participate in any material compensatory plan, contract or arrangement (whether or not written) of the Company. Furthermore, none of the New Directors has had a direct or indirect material interest in any transaction with the Company since the beginning of 2023, or in any currently proposed transaction, that is required to be disclosed under Item 404(a) of Regulation S-K of the U.S Securities and Exchange Commission. Committee Appointments The Company already has an audit committee and a compensation committee. Each of these committees was and continues to be comprised entirely of independent directors and acts under written charters, which more specifically sets forth their responsibilities and duties, as well as requirements for each committee's composition and meetings. The charter of each of the committees, is available on the SEC's website at sec.gov . As a result of recent departures from the Company's board, each of the audit committee and the compensation committee will consist of the following new board members: Audit Committee: Ms. Geng as Chairman; Ms. Geng, Mr. Meyer and Mr. Thomassen as members; and Compensation Committee: Mr. Thomassen as Chairman; Mr. Thomassen and Mr. Meyer as members. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CACTUS ACQUISITION CORP. 1 LIMITED By: /s/ Emmanuel Meyer Name: Emmanuel Meyer Title: Director Date: March 11, 2024

View Full Filing

View this 8-K filing on SEC EDGAR