Form 8-K - Current report
2023年11月8日 - 6:47AM
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): November 7, 2023
Monterey
Innovation Acquisition Corp.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation) |
001-40861
(Commission
File Number) |
85-2204842
(I.R.S. Employer
Identification No.) |
17 State Street
21st Floor
New York, NY
(Address of principal executive offices) |
10004
(Zip Code) |
(917) 267-0216
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which
registered |
Units, each consisting of one share of Common Stock and one redeemable Warrant |
|
MTRYU |
|
The Nasdaq Stock Market LLC |
Common Stock, par value $0.0001 per share |
|
MTRY |
|
The Nasdaq Stock Market LLC |
Redeemable Warrants, each Warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share |
|
MTYRW |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01. Other Events.
On November 7, 2023,
Monterey Innovation Acquisition Corporation (the “Company”) announced that the Company’s co-sponsors, NorthStar Bio
Ventures, LLC and Chardan Monterey Investments LLC, have indicated that they will not fund the monthly extension payment of $100,000 into
the Trust Account, nor any future monthly extension payments pursuant to the terms of the Company’s amended and restated certificate
of incorporation, as amended (the “Amended and Restated Certificate of Incorporation”), such that the period of time that
the Company has to consummate a business combination would not be extended beyond November 5, 2023.
As the Company will not
consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation, the
Company will i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten
business days thereafter, subject to lawfully available funds therefor, redeem 100% of the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust
account and not previously released to the Company to pay its taxes (less up to $100,000 of interest to pay dissolution expenses), divided
by the number of then outstanding public shares (the “Redemption Amount”), which redemption will completely extinguish public
stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable
law; and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
stockholders and board of directors, dissolve and liquidate, subject in each case to its obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law.
As of the close of business
on November 20, 2023 (the “Redemption Date”), the public shares will be deemed to no longer be outstanding and will represent
only the right to receive the Redemption Amount for each such public share.
The Redemption Amount
will be payable to the holders of the public shares upon presentation of their respective stock or unit certificates or other delivery
of their shares or units to the Company’s transfer agent, Continental Stock Transfer & Trust Company. Beneficial owners of public
shares held in “street name,” however, will not need to take any action in order to receive the Redemption Amount.
There will be no redemption
rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless.
The Company expects that
Nasdaq will file a Form 25 with the Securities and Exchange Commission (the “SEC”) to delist its units and Class A common
stock. The Company thereafter expects to file a Form 15 with the SEC to terminate the registration of its securities under the Securities
Exchange Act of 1934, as amended.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
Monterey Innovation Acquisition
Corp. |
|
|
|
|
|
By: |
/s/ Murat Omur |
|
|
Name: |
Murat Omur |
|
|
Title: |
Chief Executive Officer |
Date: November 7, 2023
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Nov. 07, 2023 |
Document Type |
8-K
|
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false
|
Document Period End Date |
Nov. 07, 2023
|
Entity File Number |
001-40861
|
Entity Registrant Name |
Monterey
Innovation Acquisition Corp.
|
Entity Central Index Key |
0001860663
|
Entity Tax Identification Number |
85-2204842
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
17 State Street
|
Entity Address, Address Line Two |
21st Floor
|
Entity Address, City or Town |
New York
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
10004
|
City Area Code |
917
|
Local Phone Number |
267-0216
|
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|
Elected Not To Use the Extended Transition Period |
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|
Units [Member] |
|
Title of 12(b) Security |
Units, each consisting of one share of Common Stock and one redeemable Warrant
|
Trading Symbol |
MTRYU
|
Security Exchange Name |
NASDAQ
|
Common Stock [Member] |
|
Title of 12(b) Security |
Common Stock, par value $0.0001 per share
|
Trading Symbol |
MTRY
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants [Member] |
|
Title of 12(b) Security |
Redeemable Warrants, each Warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
|
Trading Symbol |
MTYRW
|
Security Exchange Name |
NASDAQ
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Monterey Innovation Acqu... (NASDAQ:MTRYU)
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