Risk Factors Update Summary
- The number of authorized but unissued shares of Class A and Class B common stock decreased from 384 million to 220 million.
- The SEC adopted new rules on January 24, 2024, potentially increasing costs and time for business combinations.
- The deadline to consummate a business combination was extended from September 20, 2023, to December 20, 2024.
- The working capital deficit decreased from $453 million to $3 million as of December 31, 2023.
- Potential expenses post-liquidation after December 20, 2024, could impact the company significantly.
- Any redemption or repurchase conducted after December 31, 2022, may be subject to a 1% tax.
- The gross revenue threshold for business combinations was adjusted to at least $1.235 billion.
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.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1889123&owner=exclude
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