| Item 5.07 |
Submission of Matters to a Vote of Security Holders |
On March 14, 2023, Investcorp Europe Acquisition Corp I (the “Company”) held an extraordinary general meeting (the “Extraordinary General Meeting”) virtually, solely with respect to voting on the proposal to extend the date by which the Company must complete its initial business combination from March 17, 2023 to December 17, 2023 (the “Extension Amendment Proposal”) and the proposal to remove the limitation that the Company shall not redeem public shares to the extent that such redemption would cause the Company’s net tangible assets to be less than US$5,000,001 (the “Redemption Limitation Amendment Proposal”). A total of 34,372,929 of the Company’s Class A ordinary shares and Class B ordinary shares (the “Ordinary Shares”), or 79.1% of the Company’s outstanding shares as of February 22, 2023, the record date for the Extraordinary General Meeting, were represented virtually or by proxy at the Extraordinary General Meeting.
The following is a brief description of the final voting results for each of the proposals submitted to a vote of the shareholders at the Extraordinary General Meeting.
Extension Amendment Proposal
To consider and vote upon a proposal, by special resolution, to amend the Company’s amended and restated memorandum and articles of association (the “Articles”), to extend the date by which the Company has to consummate a business combination for an additional nine months from March 17, 2023 to December 17, 2023.
The Extension Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows:
|
|
|
|
|
| For |
|
Against |
|
Abstentions |
| 30,996,078 |
|
3,376,851 |
|
0 |
Redemption Limitation Amendment Proposal
To consider and vote upon a proposal, by special resolution, to amend the Company’s Articles, to eliminate the limitation that the Company shall not redeem public shares to the extent that such redemption would cause the Company’s net tangible assets to be less than US$5,000,001.
The Redemption Limitation Amendment Proposal was approved. The voting results of the shares of the Ordinary Shares were as follows:
|
|
|
|
|
| For |
|
Against |
|
Abstentions |
| 30,996,078 |
|
3,376,851 |
|
0 |
The Adjournment Proposal
To consider and vote upon a proposal, by ordinary resolution, to direct the chairman of the Extraordinary General Meeting to adjourn the Extraordinary General Meeting to a later date or dates, if necessary, to permit further solicitation and vote of proxies if, based upon the tabulated vote at the time of the Extraordinary General Meeting, there are not sufficient votes to approve the Extension Amendment Proposal and the Redemption Limitation Amendment Proposal.
The Adjournment Proposal was not acted upon at the Extraordinary General Meeting.
Redemptions
In connection with the vote to approve the Extension Amendment Proposal and the Redemption Limitation Proposal, the holders of 15,494,333 Class A ordinary shares properly exercised their rights to redeem their shares for cash at a redemption price of approximately $10.43 per share, for an aggregate redemption amount of approximately $161,606,369.80.