MITAU Coliseum Acquisition Corporation

 

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 27, 2023

 

Coliseum Acquisition Corp.

(Exact name of registrant as specified in its charter)

 

Cayman Islands		001-40514		98-1583230
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1180 North Town Center Drive, Suite 100

Las Vegas, NV 89144

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (702) 781-4313

 

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 Symbol(s)		Name of each exchange on which registered
Units, each consisting of one Class A ordinary share, par value $0.001 per share, and one-third of one redeemable warrant		MITAU		The Nasdaq Stock Market LLC
Class A ordinary shares, par value $0.001 per share		MITA		The Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50		MITAW		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 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

 

On November 27, 2023, Coliseum Acquisition Corp. (the “Company”) held an extraordinary general meeting in lieu of annual general meeting of the Company (the “Meeting”), at which shareholders approved two amendments to the Company’s Amended and Restated Memorandum and Articles of Association (the “Articles”) to (i) extend the date by which the Company has to consummate an initial business combination and (ii) permit the Company’s board of directors (the “Board”) in its sole discretion, to elect to wind up the Company’s operations prior to such date, each of which are described in more detail in Item 5.07 below.

 

A copy of the Articles amendments will be filed with the Cayman Islands Registrar of Companies. Under Cayman Islands law, the Articles amendments were effective upon the approval by the Company’s shareholders.

 

The foregoing description of the Articles amendments are qualified in their entirety by the full text of the Articles amendments, which are filed as Exhibit 3.1 hereto and incorporated by reference herein.

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

 

The disclosure set forth in Item 5.03 is incorporated into this Item 5.07 by reference.

 

On November 27, 2023, Company held the Meeting. As of November 3, 2023, the record date for the Meeting, there were 9,628,201 ordinary shares of the Company issued and outstanding and entitled to vote at Meeting, of which 9,628,200 were Class A ordinary shares of the Company, par value $0.001 per share (“Class A Shares”) and 1 was a Class B ordinary share of the Company, par value $0.001 per share (“Class B Shares”). Holders of 7,791,166 of the Company’s ordinary shares were represented at the Meeting, of which 7,791,165 were Class A Shares and 1 was a Class B Share. Therefore, a quorum was present.

 

At the Meeting, shareholders voted on and approved three proposals: (i) an amendment to the Articles to extend the date by which the Company has to consummate an initial business combination from November 25, 2023 to June 25, 2024 (the “Extended Date”) and to allow the Company, without another shareholder vote, by resolution of the Board, to elect to further extend the Extended Date for an additional three months, until up to September 25, 2024 (the “Additional Extended Date”), without requiring the Company to make any deposit into the trust account established in connection with its initial public offering, (ii) an amendment to the Articles to permit the Board, in its sole discretion, to elect to wind up the Company’s operations prior to Extended Date or Additional Extended Date, as applicable, as determined by the Board and included in a public announcement, and (iii) the re-election of Walter Skowronski and Harry L. You as Class I directors to serve for a term of three years or until their respective successors are duly elected or appointed and qualified. The vote tabulation for each proposal is set forth below.

 

Approval of Proposal 1 - Extension Amendment Proposal

 

Votes For				Votes Against				Abstentions
	5,715,518				1,300,748				774.900

 

 

Approval of Proposal 2 - Liquidation Amendment Proposal 

 

Votes For				Votes Against				Abstentions
	6,047,645				1,069,621				673,900

 

Approval of Proposal 3 - Director Election Proposal 

 

Votes For				Votes Against				Abstentions
	1				0				0

 

Item 8.01. Other Events.

 

In connection with the Meeting, shareholders holding an aggregate of 3,001,840 Class A Shares exercised their right to redeem their shares for approximately $10.70 per share of the funds held in the Company’s trust account, leaving approximately $30.79 million in cash in the trust account after satisfaction of such redemptions. Following such redemptions, the Company had an aggregate of 6,626,361 ordinary shares outstanding, of which 6,626,360 were Class A Shares and 1 was a Class B Share.

 

As previously disclosed, on November 22, 2023, in connection with the Meeting, the Company and an insider (the “Insider”) of the Company holding Class A Shares initially sold in a private placement in connection with the Company’s initial public offering (the “Founder Shares”) entered into non-redemption agreements (collectively, the “Non-Redemption Agreements”) with certain of the Company’s existing shareholders and other unaffiliated investors (collectively, the “Non-Redeeming Shareholders”), pursuant to which the Non-Redeeming Shareholders agreed not to redeem certain Class A Shares (the “Non-Redemption Shares”) and to vote all of such shares in favor of the proposals brought before the Meeting, and, in connection therewith, the Insider agreed to forfeit at the closing of the Company’s initial business combination a number of Founder Shares and the Company agreed to make a corresponding issuance of new ordinary shares to the Non-Redeeming Shareholders.

 

Due to an administrative error, one of the Non-Redeeming Shareholders redeemed a portion of the shares which it had made subject to the Non-Redemption Agreement. Accordingly, the Company is providing an update to shareholders of the new total number of Non-Redemption Shares and Founder Shares subject to the Non-Redemption Agreements. There are an aggregate of 2,023,236 Non-Redemption Shares subject to the Non-Redemption Agreements. At the closing of the Company’s initial business combination, the Insider will forfeit an aggregate of 455,228 Founder Shares in consideration of the First Extension and, if applicable, an aggregate of 151,743 Founder Shares in consideration for the Second Extension, and the Company will issue to the Non-Redeeming Shareholders a number of newly issued ordinary shares of the Company in an amount equal to such forfeited shares.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed herewith:

 

Exhibit No.		Description
3.1		Amendments to the Amended and Restated Memorandum and Articles of Association
104		Cover Page Interactive Data File (formatted as inline XBRL).

 

 

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.

 

	Coliseum Acquisition Corp.
	By:	/s/ Oanh Truong
		Name:	Oanh Truong
		Title:	Chief Financial Officer
Dated: November 27, 2023

 

 

Exhibit 3.1

 

AMENDMENTS TO
THE AMENDED AND RESTATED
MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION

OF

COLISEUM ACQUISITION CORP.

 

The Extension Amendment

 

RESOLVED, as a special resolution, THAT:

 

The text of Article 36.2 of the Amended and Restated Memorandum of Association and Articles of Association of the Company be deleted in its entirety and replaced by the following:

 

(a) The Company has until June 25, 2024 to consummate a Business Combination (the “Termination Date”); provided, however, that commencing on June 25, 2024, the Company has the right, by resolution of the Company’s board of directors, to extend the time it has to consummate a Business Combination (the “Combination Period”) for an additional three months to September 25, 2024 (the “Additional Extended Date”). The Company’s board of directors has the sole discretion whether to extend the Combination Period to the Additional Extended Date. In the event that the Company has not consummated a business combination on or before the Termination Date and determines not to extend the Combination Period to the Additional Extended Date, or the if the Company does extend the Combination Period to the Additional Extended Date and the Company does not consummate a Business Combination before the Additional Extended Date, such failure shall trigger an automatic redemption of the Public Shares (an “Automatic Redemption Event”) and the directors of the Company shall take all such action necessary to (i) cease all operations except for the purpose of winding up (ii) as promptly as reasonably possible but no more than ten (10) Business Days after the Termination Date or Additional Extended Date, as applicable, redeem the Public Shares to the holders of Public Shares, on a pro rata basis, in cash at a per-share amount equal to the applicable Per-Share Redemption Price; and (iii) as promptly as reasonably possible following such Automatic Redemption Event, subject to the approval of the remaining Members and directors, liquidate and dissolve the Company, subject to the Company's obligations under the Act to provide for claims of creditors and the requirements of other Applicable Law. In the event of an Automatic Redemption Event, only the holders of Public Shares shall be entitled to receive pro rata redeeming distributions from the Trust Account with respect to their Public Shares.

 

The Liquidation Amendment

 

RESOLVED, as a special resolution, THAT:

 

A new subsection (b) to Article 36.2 of the Amended and Restated Memorandum of Association and Articles of Association of the Company is hereby added:

 

(b) In the event that the Company’s board of directors, in its sole discretion, elects to wind up the Company’s operations on an earlier date than the Termination Date or Additional Extended Date, as applicable (such date, the “Early Termination Date”), as determined by the Company’s board of directors and included in a public announcement, (a “Voluntary Redemption Event”) and the directors of the Company shall take all such action necessary to (i) cease all operations except for the purpose of winding up (ii) as promptly as reasonably possible but no more than ten (10) Business Days after the Early Termination Date, redeem the Public Shares to the holders of Public Shares, on a pro rata basis, in cash at a per-share amount equal to the applicable Per-Share Redemption Price; and (iii) as promptly as reasonably possible following such Voluntary Redemption Event, subject to the approval of the remaining Members and directors, liquidate and dissolve the Company, subject to the Company's obligations under the Act to provide for claims of creditors and the requirements of other Applicable Law. In the event of a Voluntary Redemption Event, only the holders of Public Shares shall be entitled to receive pro rata redeeming distributions from the Trust Account with respect to their Public Shares.

 

 

The text of Article 36.6 of the Amended and Restated Memorandum of Association and Articles of Association of the Company be amended to add a reference to the Voluntary Redemption Event by deleting such Article in its entirety and replacing it with the following:

 

A holder of Public Shares shall be entitled to receive distributions from the Trust Account only in the event of an Automatic Redemption Event, a Voluntary Redemption Event, an Amendment Redemption Event or in the event the person accepts a Tender Redemption Offer or a Redemption Offer where the Business Combination is consummated. In no other circumstances shall a holder of Public Shares have any right or interest of any kind in or to the Trust Account.

 

The text of Article 36.6 of the Amended and Restated Memorandum of Association and Articles of Association of the Company be amended to add a reference to the Voluntary Redemption Event by deleting such Article in its entirety and replacing it with the following:

 

Immediately after the Company’s IPO, that amount of the proceeds received by the Company in or in connection with the IPO (including proceeds of any exercise of the underwriter’s over-allotment option and any proceeds from the simultaneous private placement of like units comprising like securities to those included in the IPO by the Company) as is described in the Company’s registration statement on Form S-1 filed with the SEC (the Registration Statement) at the time it goes effective as shall be deposited in the Trust Account shall be so deposited and thereafter held in the Trust Account until released in the event of a Business Combination or otherwise in accordance with this Article 36. Neither the Company nor any Officer, director or employee of the Company will disburse any of the proceeds held in the Trust Account until the earlier of (i) a Business Combination, or (ii) an Automatic Redemption Event or Voluntary Redemption Event, as applicable, or in payment of the acquisition price for any shares which the Company elects to purchase, redeem or otherwise acquire in accordance with this Article 36, in each case in accordance with the trust agreement governing the Trust Account; provided that interest earned on the Trust Account (as described in the Registration Statement) may be released from time to time to the Company to pay the Company’s tax obligations and up to US$100,000 of such interest may also be released from the Trust Account to pay any liquidation expenses of the Company, if applicable.

 

Clause (a) of the definition of Per-Share Redemption Price of the Amended and Restated Memorandum of Association and Articles of Association of the Company be amended to add a reference to the Voluntary Redemption Event by deleting such Article in its entirety and replacing it with the following:

 

(a) with respect to an Automatic Redemption Event or a Voluntary Redemption Event, the aggregate amount on deposit in the Trust Account including interest earned on the funds in the Trust Account (less up to $100,000 of interest to pay dissolution expenses and which interest shall be net of taxes payable) divided by the number of then issued and outstanding Public Shares;

 

Clause (b) of Article 2.5 of the Amended and Restated Memorandum of Association and Articles of Association of the Company be amended to add a reference to the Voluntary Redemption Event by deleting such Article in its entirety and replacing it with the following:

 

(b) the right to be redeemed on an Automatic Redemption Event or Voluntary Redemption Event in accordance with Article 36.2 or pursuant to either a Tender Redemption Offer or Redemption Offer in accordance with Article 36.5 or pursuant to an Amendment Redemption Event in accordance with Article 36.11.

 

 

v3.23.3

Cover	Nov. 27, 2023
Document Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 27, 2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-40514
Entity Registrant Name	Coliseum Acquisition Corp.
Entity Central Index Key	0001847440
Entity Tax Identification Number	98-1583230
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	1180 North Town Center Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89144
City Area Code	702
Local Phone Number	781-4313
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Units, each consisting of one Class A ordinary share, par value $0.001 per share, and one-third of one redeemable warrant
Document Information [Line Items]
Title of 12(b) Security	Units, each consisting of one Class A ordinary share, par value $0.001 per share, and one-third of one redeemable warrant
Trading Symbol	MITAU
Security Exchange Name	NASDAQ
Class A ordinary shares, par value $0.001 per share
Document Information [Line Items]
Title of 12(b) Security	Class A ordinary shares, par value $0.001 per share
Trading Symbol	MITA
Security Exchange Name	NASDAQ
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
Document Information [Line Items]
Title of 12(b) Security	Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
Trading Symbol	MITAW
Security Exchange Name	NASDAQ

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