Cactus Acquisition Corp. 1 Ltd Files 8-K
Ticker: CTSUF · Form: 8-K · Filed: May 21, 2024 · CIK: 1865861
| Field | Detail |
|---|---|
| Company | Cactus Acquisition CORP. 1 LTD (CTSUF) |
| Form Type | 8-K |
| Filed Date | May 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
Cactus Acquisition Corp. 1 Ltd filed an 8-K on May 17, 2024, reporting a material agreement and financial obligation.
AI Summary
Cactus Acquisition Corp. 1 Limited filed an 8-K on May 21, 2024, reporting a material definitive agreement and a direct financial obligation. The filing date indicates the earliest event reported was May 17, 2024. The company is incorporated in the Cayman Islands and operates in the Real Estate & Construction sector.
Why It Matters
This 8-K filing indicates Cactus Acquisition Corp. 1 Ltd has entered into a material definitive agreement and incurred a financial obligation, which could signal significant business developments or strategic moves.
Risk Assessment
Risk Level: medium — The filing of an 8-K with material definitive agreements and financial obligations suggests potential significant corporate actions that could impact the company's future performance and stock price.
Key Players & Entities
- Cactus Acquisition Corp. 1 Limited (company) — Registrant
- May 17, 2024 (date) — Earliest event reported
- May 21, 2024 (date) — Filing date
- Cayman Islands (location) — State of Incorporation
FAQ
What type of material definitive agreement did Cactus Acquisition Corp. 1 Limited enter into?
The filing does not specify the exact nature of the material definitive agreement, only that one was entered into.
What is the nature of the direct financial obligation or off-balance sheet arrangement?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details are not provided in the summary information.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on May 17, 2024.
What is Cactus Acquisition Corp. 1 Limited's Standard Industrial Classification (SIC) code and industry?
The SIC code is 6770, which corresponds to BLANK CHECKS, and the industry is Real Estate & Construction.
Where is Cactus Acquisition Corp. 1 Limited incorporated?
Cactus Acquisition Corp. 1 Limited is incorporated in the Cayman Islands.
Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-05-21 16:05:35
Key Financial Figures
- $0.0001 — LLC 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
- $500,000 — Lender ") with a principal amount up to $500,000 (the " Note "). The Note is repayable i
Filing Documents
- ccts20240521_8k.htm (8-K) — 36KB
- ex_677328.htm (EX-10.1) — 27KB
- 0001437749-24-017824.txt ( ) — 227KB
- ccts-20240517.xsd (EX-101.SCH) — 4KB
- ccts-20240517_def.xml (EX-101.DEF) — 14KB
- ccts-20240517_lab.xml (EX-101.LAB) — 18KB
- ccts-20240517_pre.xml (EX-101.PRE) — 14KB
- ccts20240521_8k_htm.xml (XML) — 6KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Promissory Note On May 17, 2024, the Company issued an unsecured promissory note to ARWM Inc Pte. Ltd. (the " Lender ") with a principal amount up to $500,000 (the " Note "). The Note is repayable in full upon the earlier of (a) November 1, 2024, (b) the date of the consummation of the Company's initial business combination or (c) the date of the liquidation of the Company (such earlier date, the " Maturity Date "). The Note bears no interest, however, an establishment fee, a line fee and an exit fee totaling in aggregate 9.0% per annum are payable on the Maturity Date. If the Company does not consummate an initial business combination by the Maturity Date the Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven. The foregoing description of the Note is qualified in its entirety by reference to the text of the Note, a copy of which is attached as Exhibit 10.1 hereto and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure contained in Item 1.01 of this Current Report on Form 8-K with respect to the Note is incorporated by reference in this Item 2.03.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. EXHIBIT NO. DESCRIPTION 10.1 Promissory Note dated May 17, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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/ Gary Challinor Name: Gary Challinor Title: Chief Executive Officer Date: May 21, 2024