Deep Medicine Acquisition Corp. Schedules Special Meeting for January 26, 2024
Ticker: TRUG · Form: DEF 14A · Filed: Jan 2, 2024 · CIK: 1857086
| Field | Detail |
|---|---|
| Company | Deep Medicine Acquisition Corp. (TRUG) |
| Form Type | DEF 14A |
| Filed Date | Jan 2, 2024 |
| Risk Level | |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $6.7 million, $11.68, $11.55, $50,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: SPAC, Proxy Statement, Business Combination, Extension, Virtual Meeting
TL;DR
<b>Deep Medicine Acquisition Corp. is holding a virtual special meeting on January 26, 2024, to vote on extending the deadline for a business combination.</b>
AI Summary
Deep Medicine Acquisition Corp. (TRUG) filed a Proxy Statement (DEF 14A) with the SEC on January 2, 2024. Deep Medicine Acquisition Corp. will hold a special meeting of stockholders on January 26, 2024, at 10:00 a.m. Eastern time. The meeting will be conducted virtually via live webcast at https://web.lumiagm.com/230515088. The primary purpose is to vote on a proposal to amend the Company's certificate of incorporation to extend the deadline for consummating a business combination. The proxy statement is dated December 29, 2023, and is being mailed to stockholders on or about January 4, 2024. Stockholders are urged to submit their proxy votes by telephone or mail before the meeting date.
Why It Matters
For investors and stakeholders tracking Deep Medicine Acquisition Corp., this filing contains several important signals. Extending the business combination deadline is crucial for the SPAC to avoid liquidation and continue its search for a target company. The virtual format allows for broader participation from stockholders regardless of their location.
Risk Assessment
Risk Level: — Deep Medicine Acquisition Corp. shows moderate risk based on this filing. The filing is a routine proxy statement for a special meeting, with no immediate financial or operational changes disclosed.
Analyst Insight
Stockholders should review the proxy materials and vote on the proposed extension amendment to ensure their shares are represented.
Key Numbers
- 10:00 a.m. Eastern time — Meeting Time (Time of the special meeting.)
- January 26, 2024 — Meeting Date (Date of the special meeting.)
Key Players & Entities
- Deep Medicine Acquisition Corp. (company) — Registrant and filer of the proxy statement.
- January 26, 2024 (date) — Date of the special meeting.
- December 29, 2023 (date) — Date of the proxy statement.
- January 4, 2024 (date) — Approximate mailing date of the proxy statement to stockholders.
FAQ
When did Deep Medicine Acquisition Corp. file this DEF 14A?
Deep Medicine Acquisition Corp. filed this Proxy Statement (DEF 14A) with the SEC on January 2, 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 Deep Medicine Acquisition Corp. (TRUG).
Where can I read the original DEF 14A filing from Deep Medicine Acquisition Corp.?
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 Deep Medicine Acquisition Corp..
What are the key takeaways from Deep Medicine Acquisition Corp.'s DEF 14A?
Deep Medicine Acquisition Corp. filed this DEF 14A on January 2, 2024. Key takeaways: Deep Medicine Acquisition Corp. will hold a special meeting of stockholders on January 26, 2024, at 10:00 a.m. Eastern time.. The meeting will be conducted virtually via live webcast at https://web.lumiagm.com/230515088.. The primary purpose is to vote on a proposal to amend the Company's certificate of incorporation to extend the deadline for consummating a business combination..
Is Deep Medicine Acquisition Corp. a risky investment based on this filing?
Based on this DEF 14A, Deep Medicine Acquisition Corp. presents a moderate-risk profile. The filing is a routine proxy statement for a special meeting, with no immediate financial or operational changes disclosed.
What should investors do after reading Deep Medicine Acquisition Corp.'s DEF 14A?
Stockholders should review the proxy materials and vote on the proposed extension amendment to ensure their shares are represented. The overall sentiment from this filing is neutral.
How does Deep Medicine Acquisition Corp. compare to its industry peers?
As a Special Purpose Acquisition Company (SPAC), Deep Medicine Acquisition Corp. is focused on identifying and completing a business combination with a target company.
Are there regulatory concerns for Deep Medicine Acquisition Corp.?
The filing is a Schedule 14A (DEF 14A) under the Securities Exchange Act of 1934, requiring disclosure of information for soliciting proxies from stockholders.
Risk Factors
- Extension of Time to Consummate Business Combination [high — financial]: Failure to extend the deadline could result in the Company's inability to complete a business combination and potential liquidation.
Industry Context
As a Special Purpose Acquisition Company (SPAC), Deep Medicine Acquisition Corp. is focused on identifying and completing a business combination with a target company.
Regulatory Implications
The filing is a Schedule 14A (DEF 14A) under the Securities Exchange Act of 1934, requiring disclosure of information for soliciting proxies from stockholders.
What Investors Should Do
- Review the proxy statement for details on the proposed charter amendment.
- Vote on the Extension Amendment Proposal to allow the company more time to find a business combination.
- Submit proxy votes by telephone or mail to ensure representation at the meeting.
Key Dates
- 2024-01-26: Special Meeting of Stockholders — To vote on extending the business combination deadline.
Glossary
- Business Combination
- A merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. (The Company's primary objective is to complete such a transaction before its deadline.)
- Extension Amendment
- An amendment to the Company's certificate of incorporation to extend the deadline for consummating a business combination. (This is the key proposal to be voted on at the special meeting.)
Year-Over-Year Comparison
This is a definitive proxy statement (DEF 14A) filed for a special meeting, indicating a specific event rather than a periodic financial update.
Filing Stats: 4,654 words · 19 min read · ~16 pages · Grade level 17.7 · Accepted 2023-12-29 18:38:31
Key Financial Figures
- $6.7 million — s in the Trust Account of approximately $6.7 million as of such date, the pro rata portion o
- $11.68 — tion of Public Shares was approximately $11.68 per share (before taking into account t
- $11.55 — orted on the Nasdaq Capital Markets was $11.55. The Company cannot assure stockholders
- $50,000 — shall be net of taxes payable and up to $50,000 of interest to pay dissolution expenses
Filing Documents
- formdef14a.htm (DEF 14A) — 636KB
- 0001493152-23-046632.txt ( ) — 637KB
From the Filing
DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 14A Proxy 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 under §240.14a-12 DEEP MEDICINE ACQUISITION CORP. (Name of Registrant as Specified In Its Charter) (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 DEEP MEDICINE ACQUISITION CORP. 595 Madison Avenue, 12th Floor, New York, NY LETTER TO STOCKHOLDERS TO THE STOCKHOLDERS OF DEEP MEDICINE ACQUISITION CORP.: You are cordially invited to attend the special meeting in lieu of an annual meeting of stockholders (the “ Meeting ”), of Deep Medicine Acquisition Corp. (“ we ”, “ us ”, “ our ” or the “ Company ”), to be held at 10:00 a.m. Eastern time on January 26, 2024. The Meeting will be a completely virtual meeting of stockholders, which will be conducted via live webcast. You will be able to attend the Meeting online, vote and submit your questions during the Meeting by visiting https://web.lumiagm.com/230515088 . Even if you are planning on attending the Meeting online, please promptly submit your proxy vote by telephone, or, if you received a printed form of proxy in the mail, by completing, dating, signing and returning the enclosed proxy, so your shares will be represented at the Meeting. Instructions on voting your shares are on the proxy materials you received for the Meeting. Even if you plan to attend the Meeting online, it is strongly recommended you complete and return your proxy card before the Meeting date, to ensure that your shares will be represented at the Meeting if you are unable to attend. The accompanying proxy statement (the “ Proxy Statement ”) is dated December 29, 2023 and is first being mailed to stockholders of the Company on or about January 4, 2024. The sole purpose of the Meeting is to consider and vote upon the following proposals (the “ Proposals ”): 1) a proposal to amend the Company’s second amended and restated certificate of incorporation (the “ Charter ”), in the form set forth in Annex A to the accompanying Proxy Statement (the “ Extension Amendment ” and such proposal, the “ Extension Amendment Proposal ”), to extend the date by which the Company must (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “ Business Combination ”, and the Company’s initial Business Combination, the “ Business Combination ”), (ii) cease all operations except for the purpose of winding up, and (iii) redeem or repurchase 100% of the Company’s Class A Common Stock (“ Class A Common Stock ”) included as part of the units (the “ Public Shares ”) sold in the Company’s initial public offering that was consummated on October 29, 2021 (the “ IPO ”), from January 29, 2024 to July 29, 2024 (the “ Extension ”, and such later date, the “ Extended Date ”), or such earlier date as determined by the Company’s board of directors (the “ Board ”)); 2) a proposal to re-elect each of Humphrey P. Polanen, Ronald M. Razmi and Wanlei Miao as Class II directors of the Board until the 2024 annual meeting of stockholders or until their successors are appointed and qualified (the “ Director Election Proposal ”); and 3) a proposal to approve the adjournment of the Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of the other proposals (the “ Adjournment Proposal ”). The Adjournment Proposal will only be presented at the Meeting if there are not sufficient votes to approve any of the other Proposals. Each of the Proposals is more fully described in the accompanying Proxy Statement. The purpose of the Extension Amendment Proposal and, if necessary, the Adjournment Proposal, is to allow us additional time to complete the Business Combination. On July 21, 2023, the Company entered into an Amended and Restated Agreement and Plan of Merger (as amended, including by the First Amendment to the Amended and Restated Agreement and Plan of Merger, dated December 7, 2023 and as it may be further amended and/or restated from time to ti