Cactus Acquisition Corp. 1 Ltd Files 8-K on Leadership Changes
Ticker: CTSUF · Form: 8-K · Filed: Apr 12, 2024 · CIK: 1865861
| Field | Detail |
|---|---|
| Company | Cactus Acquisition CORP. 1 LTD (CTSUF) |
| Form Type | 8-K |
| Filed Date | Apr 12, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, leadership-change, compensation
Related Tickers: CCTSU
TL;DR
Cactus Acquisition Corp. 1 Ltd (CCTSU) filed an 8-K detailing director/officer changes and compensation. Watch for updates.
AI Summary
Cactus Acquisition Corp. 1 Limited filed an 8-K on April 12, 2024, reporting changes related to directors and officers, and compensatory arrangements. The filing indicates a shift in the company's leadership structure and potentially new compensation plans for its key personnel.
Why It Matters
Changes in a company's board of directors and executive compensation can signal strategic shifts or new operational directions that may impact future performance and shareholder value.
Risk Assessment
Risk Level: low — The filing is a routine corporate disclosure regarding leadership and compensation, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- Cactus Acquisition Corp. 1 Limited (company) — Registrant
- April 12, 2024 (date) — Date of earliest event reported
- Cayman Islands (location) — State of incorporation
- 001-40981 (other) — Commission File Number
FAQ
What specific changes were made regarding directors or officers?
The filing indicates changes related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers', but the specific details of these changes are not elaborated in the provided text.
What is the nature of the compensatory arrangements mentioned?
The filing mentions 'Compensatory Arrangements of Certain Officers', but the specifics of these arrangements are not detailed in the provided excerpt.
When was this report filed and what is the earliest event date?
This report was filed on April 12, 2024, and the earliest event reported is also April 12, 2024.
What is the company's state of incorporation and commission file number?
The company is incorporated in the Cayman Islands and its commission file number is 001-40981.
What is the Standard Industrial Classification (SIC) code for Cactus Acquisition Corp. 1 Ltd?
The Standard Industrial Classification code listed is 6770, which corresponds to BLANK CHECKS.
Filing Stats: 973 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-04-12 17:01:05
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
- d827698d8k.htm (8-K) — 30KB
- 0001193125-24-094829.txt ( ) — 199KB
- cctsu-20240412.xsd (EX-101.SCH) — 5KB
- cctsu-20240412_def.xml (EX-101.DEF) — 14KB
- cctsu-20240412_lab.xml (EX-101.LAB) — 24KB
- cctsu-20240412_pre.xml (EX-101.PRE) — 15KB
- d827698d8k_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): April 12, 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 Principal Officers; Election of Directors; Appointment of Principal Officers. (b) On April 11, 2024, the directors of Cactus Acquisition Corp. 1 Limited (the " Company ") unanimously appointed (i) Gary Challinor to serve as its Chief Executive Officer and (ii) Stephen T. Wills to serve as its Chief Financial Officer. Biographies of each of Mr. Challinor and Mr. Wills follow. Gary Challinor was appointed to serve as the Company's Chief Executive Officer on April 11, 2024. He currently also serves as Chief Operating Officer of VivoPower International PLC. He has over 30 years of experience across a range of senior executive roles in multiple industries around the world. He has worked for Fortune 1000, FTSE and ASX companies and various government organizations across finance, human resources, customer experience, manufacturing, distribution, digital workspace, cloud solutions and more, and been a part of a number of successful start-ups, scale-ups and turnarounds. Gary's deep understanding of various organizations has helped them to execute successfully to achieve their goals. As a leader Gary focusses on developing his teams to ensure they achieve both their professional as well as their personal goals. With a history of delivering both sales and profit achievement, Gary has managed teams in excess of 100 people across multiple countries (EMEA, USA, South America, APAC), cultures, languages and time zones whilst ensuring 100% customer satisfaction. Mr. Challinor received his B.A. from Western Sydney University in accounting and computer science and his M.B.A. from University of Reading. Stephen T. Wills was appointed to serve as the Company's Chief Financial Officer on April 11, 2024. He previously served as our Chief Financial Officer. He also serves as the Chief Financial Officer, Chief Operating Officer, Treasurer and Secretary of Palatin Technologies, Inc., a publicly traded biopharmaceutical company. Mr. Wills has over 30 years of operational, accounting/auditing, fund-raising, acquisition, licensing, divestiture and healthcare experience. Mr. Wills has served on the board of directors of MediWound Ltd. since April 2017, and as Chairperson from October 2017 until August 2022, and is the chairperson of the audit committee and a member of the compensation committee, also has served on the board of directors of Gamida Cell Ltd. since March 2019, and is chairman of the audit committee and a member of the compensation and finance committees. Mr. Wills served as the Chief Financial Officer of Cactus Acquisition Corp, a Special Purpose Acquisitio