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): February
28, 2024 (February 22, 2024)
TG Venture Acquisition Corp.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41000 |
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86-1985947 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
1390 Market Street, Suite 200
San Francisco, CA 94102
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area
code: (628) 251-1369
Not Applicable
(Former name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing 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
Symbols |
|
Name
of Each Exchange on Which Registered |
Units,
each consisting of one share of Class A Common Stock and one Redeemable Warrant |
|
TGVCU |
|
Nasdaq
Global Market |
Class
A Common Stock, par value $0.0001 per share |
|
TGVC |
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Nasdaq
Global Market |
Warrants,
each exercisable for one share Class A Common Stock for $11.50 per share |
|
TGVCW |
|
Nasdaq
Global Market |
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 ☒
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 1.02 Termination
of a Material Definitive Agreement.
As previously disclosed by TG Venture Acquisition
Corp., a Delaware corporation (“TGVC”), in a Current Report on Form 8-K filed with the U.S. Securities and Exchange
Commission on December 6, 2022, TGVC entered into a business combination agreement on December 5, 2022 (as amended, the “Business
Combination Agreement”) by and among (i) The Flexi Group Limited, a business company with limited liability incorporated
under the laws of the British Virgin Islands (the “Flexi”), (ii) The Flexi Group Holdings, Ltd., a business
company with limited liability incorporated under the laws of the British Virgin Islands and a direct wholly owned subsidiary of Flexi
(“PubCo”), (iii) The Flexi Merger Co. Ltd., a business company with limited liability incorporated under the
laws of the British Virgin Islands and a direct wholly owned subsidiary of PubCo, and (iv) Flexi Merger Co. LLC, a Delaware limited liability
company and a direct wholly owned subsidiary of PubCo. Unless otherwise defined herein, capitalized terms used herein shall have the meanings
ascribed thereto in the Business Combination Agreement.
On February 22, 2024, TGVC received written notice
from Flexi that Flexi had elected to terminate the Business Combination Agreement pursuant to Section 10.1(i)(ii) thereof because the
Closing had not occurred on or before May 5, 2023 (the “Termination”).
TGVC is exploring
its options and available legal remedies against Flexi in connection with the termination of the Business Combination Agreement and intends
to vigorously protect its rights under the Business Combination Agreement.
Item 8.01
In connection with the Termination, TGVC has decided
to cancel the special meeting of stockholders originally scheduled for March 1, 2024, and to withdraw from consideration by the stockholders
of TGVC the proposals set forth in TGVC’s definitive proxy statement (the “Proxy Statement”) filed with
the U.S. Securities and Exchange Commission on January 9, 2024 in connection therewith (the “Cancellation”).
As a result of the Cancellation, TGVC will not complete
the redemption of shares of its Class A common stock submitted in connection with the Business Combination Proposal (as defined in the
Proxy Statement) for the pro rata portion of the amounts held in the trust account established at the consummation of TGVC’s initial
public offering. Any shares of Class A common stock already submitted for redemption will be returned to stockholders promptly.
Forward-Looking Statements
This
Current Report on Form 8-K (this “Form 8-K”) includes “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 TGVC exploring its options and available legal remedies against Flexi in connection
with the termination of the Business Combination Agreement and related matters, as well as all other statements other than
statements of historical fact included in this Form 8-K are forward-looking statements. When used in this
Form 8-K, words such as “explore,” “believe,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,”
“would” and similar expressions, as they relate to TGVC or its 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,
TGVC’s management. Actual results could differ materially from those contemplated by the forward-looking statements
as a result of certain factors detailed in TGVC’s filings with the SEC. All subsequent written or oral forward-looking statements
attributable to TGVC or persons acting on its 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 TGVC, including those set forth in the “Risk Factors”
section of TGVC’s Annual Report on Form 10-K, subsequent quarterly reports on Form 10-Q and initial
public offering prospectus. TGVC undertakes no obligation to update these statements for revisions or changes after the date of this release,
except as required by law.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. |
|
Description |
104 |
|
Cover Page Interactive Data File (embedded within the
Inline XBRL document). |
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.
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TG Venture Acquisition Corp. |
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|
|
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By: |
/s/ Pui Lan Patrick Tsang |
|
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Name: |
Pui Lan Patrick Tsang |
|
|
Title: |
Chief Executive Officer and Director |
Dated: February 28, 2024
TG Venture Acquisition (NASDAQ:TGVCU)
過去 株価チャート
から 8 2024 まで 9 2024
TG Venture Acquisition (NASDAQ:TGVCU)
過去 株価チャート
から 9 2023 まで 9 2024