On June 23, 2023, Achari Ventures Holding Corp. I (the “Company”) filed a definitive proxy statement (the “Definitive Proxy
Statement”) for the solicitation of proxies in connection with a special meeting of the Company’s stockholders to be held on July 12, 2023 (the “Special Meeting”) to consider and vote on, among other proposals (the
“Proposals”), the Company’s ability to extend the time period the Company has to complete an initial business combination (the “Business Combination”). Defined terms used but not defined herein have the meanings set forth in
the Definitive Proxy Statement.
As discussed in the Definitive Proxy Statement, the Company estimates that the per-share price at which public shares may be redeemed from cash held in the Trust Account will be approximately $10.76 (subject to the release of funds not previously released to the Company to pay taxes) at the
time of the Special Meeting. The Company currently expects to release $0.26 per share from the Trust Account ahead of the Special Meeting in connection with the payment of taxes currently due and payable. As a result, the Company currently estimates
that the per-share price at which public shares may be redeemed from cash held in the Trust Account, net of funds released to pay taxes, will be approximately $10.50.
Participants in the Solicitation
The Company and its directors and executive officers and other persons may be deemed to be participants in the solicitation of proxies from the
Company’s stockholders in respect of the Proposals. Information regarding the Company’s directors and executive officers is available in its annual report on Form 10-K filed with the SEC. Additional
information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the Definitive Proxy Statement.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of
securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Additional Information
The Company has filed a Definitive Proxy Statement with the SEC in connection with the Special Meeting, beginning on July 12, 2023, and
mailed the Definitive Proxy Statement and other relevant documents to its stockholders as of the June 14, 2023 record date for the Special Meeting. The Company’s stockholders and other interested persons are advised to read the Definitive
Proxy Statement and any other relevant documents that have been or will be filed with the SEC in connection with the Company’s solicitation of proxies for the Special Meeting because these documents will contain important information about the
Company, the Proposals and related matters. Stockholders may also obtain a free copy of the Definitive Proxy Statement, as well as other relevant documents that have been or will be filed with the SEC, without charge, at the SEC’s website
located at www.sec.gov or by directing a request to Morrow Sodali LLC, at (203) 658-9400 (call collect), (800) 662-5200 (call toll-free), or by sending an email to
AVHI.info@investor.morrowsodali.com.
Forward-Looking Statements
This Current Report on Form 8-K (“Current Report”) may include, and oral statements made from
time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this Current Report are forward-looking statements.
When used in this Current Report, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the
forward-looking statements as a result of certain factors detailed in the Company’s filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their
entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and
prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this Current Report, except as required by law.