Risk Factors Update Summary
- Cash available outside the trust account decreased from approximately $122 million to $39 million.
- The potential redemption amount per share decreased from $16.989 to $16.598.
- Potential acquisition of a non-U.S. partner may expose us to currency risks impacting financials.
- The deadline to consummate a business combination was extended from January 2023 to February 2024.
- The minimum days for a deposit in the trust account decreased from 185 to 180 days.
- Relocation to another jurisdiction may subject us to uncertain legal systems affecting agreements.
- The number of public shares redeemed increased significantly from 738,255 to 305.
- The interest rate on the deposit account decreased from 4% to 2% per annum.
- Compliance with evolving regulations increases costs and diverts management attention, impacting operations.
- The sponsor's ownership increased from 78% to 98% of the current issued and outstanding ordinary shares.
- Global economic uncertainty and political instability may hinder completion of business combinations.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
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