Technology & Telecommunication Acquisition Corp Files 10-K for Fiscal Year Ended Nov 30, 2023

TL;DR

<b>Technology & Telecommunication Acquisition Corp has filed its annual 10-K report for the fiscal year ending November 30, 2023.</b>

AI Summary

Technology & Telecommunication Acquisition Corp (TETUF) filed a Annual Report (10-K) with the SEC on March 4, 2024. Filed 10-K for the fiscal year ended November 30, 2023. Company's principal executive offices are located at 78 SW 7th Street, Suite 500, Miami, FL 33130. The company's SIC code is 7389 (Services-Business Services, NEC). The filing covers the period from December 1, 2022, to November 30, 2023. Key financial statement items include Common Stock, Additional Paid-In Capital, Retained Earnings, and Subscription Receivable.

Why It Matters

For investors and stakeholders tracking Technology & Telecommunication Acquisition Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: low — Technology & Telecommunication Acquisition Corp shows low risk based on this filing. The company is a special purpose acquisition company (SPAC) and its primary business is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As such, its financial performance is heavily dependent on the successful completion of a business combination, which is not guaranteed.

Analyst Insight

Monitor for announcements regarding potential business combinations or strategic partnerships.

Key Numbers

• 2023-11-30 — Fiscal Year End (Conformed period of report)
• 2024-03-04 — Filing Date (Date the 10-K was filed)
• 7389 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Technology & Telecommunication Acquisition Corp (company) — Filer of the 10-K report
• Miami, FL 33130 (location) — Business and mailing address

FAQ

Risk Factors

• Dependence on Business Combinations [high — financial]: As a special purpose acquisition company, the company's success is contingent upon completing a business combination, which involves significant risks and uncertainties.

Industry Context

Technology & Telecommunication Acquisition Corp operates within the financial services sector, specifically as a special purpose acquisition company (SPAC) focused on the technology and telecommunication industries.

Regulatory Implications

The company is subject to SEC regulations governing public companies, including the requirement to file annual reports (10-K) detailing financial performance and business operations.

What Investors Should Do

1. Review the company's strategy for identifying and completing a business combination.
2. Analyze any disclosed financial data or projections related to potential target companies.
3. Monitor SEC filings for updates on business combination progress or significant corporate events.

Key Dates

• 2023-11-30: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-04: Filing Date — Date the 10-K was officially submitted to the SEC.

Glossary

SPAC

Special Purpose Acquisition Company: A shell company that is formed to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. (The company is structured as a SPAC, meaning its financial performance and future prospects are tied to its ability to identify and complete an acquisition.)

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), that gives a comprehensive summary of a company's financial performance. (This filing provides the official annual financial and operational overview of Technology & Telecommunication Acquisition Corp.)

Year-Over-Year Comparison

This is the annual 10-K filing for the fiscal year ended November 30, 2023. Previous filings would include quarterly reports (10-Q) and potentially other current reports (8-K) detailing specific events.

Key Financial Figures

• $0.0001 — Market LLC Ordinary shares, par value $0.0001 per share TETE The Nasdaq Stock Mar
• $0 — 209 Class A ordinary shares, par value $0.0001, and 0 Class B ordinary shares, p
• $100,000,000 — 000 units, generating gross proceeds of $100,000,000. Simultaneously with the closing of the
• $10.00 — s to the Sponsor at a purchase price of $10.00 per private placement unit, generating
• $4,800,000 — gross proceeds to TETE in the amount of $4,800,000. On January 20, 2022, the underwriter
• $15,000,000 — ng additional gross proceeds to TETE of $15,000,000. Also, in connection with the full exer
• $116,725,000 — e IPO on January 20, 2022, an amount of $116,725,000 ($10.15 per unit) from the net proceeds
• $10.15 — ry 20, 2022, an amount of $116,725,000 ($10.15 per unit) from the net proceeds of the
• $262,500 — one-month extension, the lesser of (a) $262,500 and (b) $0.0525 for each Class A ordina
• $0.0525 — ion, the lesser of (a) $262,500 and (b) $0.0525 for each Class A ordinary share outstan
• $10.31 — hareholders at a price of approximately $10.31 per share, in an aggregate principal am
• $86,353,662 — re, in an aggregate principal amount of $86,353,662. Following the redemptions, there were
• $656,747 — y note to its Sponsor, in the amount of $656,747 which amount was deposited into the tru
• $164,119 — 023. The Company subsequently deposited $164,119 per month into the trust account to fur
• $144,000 — one-month extension, the lesser of (a) $144,000 and (b) $0.045 for each Class A ordinar

Filing Documents

• form10-k.htm (10-K) — 894KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 16KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex97.htm (EX-97.CLAWBACK) — 39KB
• 0001493152-24-008715.txt (&nbsp;) — 3638KB
• tete-20231130.xsd (EX-101.SCH) — 25KB
• tete-20231130_cal.xml (EX-101.CAL) — 26KB
• tete-20231130_def.xml (EX-101.DEF) — 158KB
• tete-20231130_lab.xml (EX-101.LAB) — 203KB
• tete-20231130_pre.xml (EX-101.PRE) — 179KB
• form10-k_htm.xml (XML) — 386KB

BUSINESS

BUSINESS 3 ITEM 1A. RISK FACTORS 7 ITEM 1B. UNRESOLVED STAFF COMMENTS 8 ITEM 2.

PROPERTIES

PROPERTIES 8 ITEM 3. LEGAL PROCEEDINGS 8 ITEM 4. MINE SAFETY DISCLOSURES 8 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 9 ITEM 6. [RESERVED] 9 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 9 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 11 ITEM 8. CONSOLIDATED

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 11 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 11 ITEM 9A. CONTROLS AND PROCEDURES 11 ITEM 9B. OTHER INFORMATION 13 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 13 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 14 ITEM 11. EXECUTIVE COMPENSATION 19 ITEM 12. SECURITY 20 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 21 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 23 PART IV ITEM 15. EXHIBITS AND CONSOLIDATED FINANCIAL STATEMENT SCHEDULES 23 CERTAIN TERMS References to "the Company," "TETE," "our," "us" or "we" refer to Technology & Telecommunication Acquisition Corporation, a blank check company incorporated in the Cayman Islands on November 8, 2021. References to our "Sponsor" refer to Technology & Telecommunication LLC, a Cayman Islands limited liability company. References to our "IPO" refer to the initial public offering of Technology & Telecommunication Acquisition Corporation, which closed on January 20, 2022. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. The statements contained in this report that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to, statements regarding our or our management's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any assumptions, are f

Business

Business Combination Activities TETE entered into an amended and restated agreement and plan of merger, dated as of August 2, 2023 (as it may be amended from time to time, the "Merger Agreement" or "Business Combination Agreement"), which provides for a Business Combination between TETE and Bradbury Capital Holdings Inc., a Cayman Islands exempted company ("Holdings"). Pursuant to the Merger Agreement, the Business Combination will be effected in two steps: (i) TETE will reincorporate in the Cayman Islands by merging with and into TETE TECHNOLOGIES INC, a Cayman Islands exempted company and wholly owned subsidiary of TETE ("PubCo"), with PubCo remaining as the surviving publicly traded entity (the "Reincorporation Merger"); (ii) after the Reincorporation Merger, TETE INTERNATIONAL INC ("Merger Sub"), a Cayman Islands exempted company and wholly owned subsidiary of PubCo, will be merged with and into Holdings, resulting in Holdings being a wholly owned subsidiary of PubCo (the "Acquisition Merger"). The Merger Agreement is by and among TETE, PubCo, Merger Sub, Holdings, Super Apps Holdings Sdn. Bhd., a Malaysian private limited company and wholly owned subsidiary of Holdings, Technology & Telecommunication LLC, as the representative of the shareholders of TETE, and Loo See Yuen, an individual as the representative of the shareholders of Holdings. The aggregate consideration for the Acquisition Merger is $1,100,000,000, payable in the form of 110,000,000 newly issued PubCo Ordinary Shares (the "Closing Payment Shares") valued at $10.00 per share, of which $235,000,000 shall be paid at Closing with the remaining $865,000,000 payable subject to the earn-out provisions set forth in the Merger Agreement, to Holdings and its shareholders in accordance with the terms of the Merger Agreement. At the closing of the Acquisition Merger, the issued and outstanding shares in Holdings held by the former Holdings shareholders will be cancelled and cease to exist, in exchange fo

View Full Filing

View this 10-K filing on SEC EDGAR