Integral Acquisition Corp 1 (NASDAQ: INTEU) recently disclosed in an 8-K filing with the Securities and Exchange Commission that on November 6, 2024, it executed a promissory note agreement with Integral Sponsor LLC, a Delaware limited liability company. The agreement entails Integral Acquisition Corp 1 issuing a promissory note of up to $130,561.20 to Integral Sponsor LLC.
The purpose of this promissory note, as per the filing, is to allow Integral Acquisition Corp 1 to loan funds to deposit into the company’s Trust Account. This Trust Account holds the company’s Class A common stock, par value $0.0001 per share, included in the units sold during the initial public offering completed on November 5, 2021.
The filing also mentioned that the issuance of the Note falls under the exemption from registration in Section 4(a)(2) of the Securities Act of 1933, as amended. More detailed information can be accessed in the 8-K filing.
Moreover, the filing also unveiled that Integral Acquisition Corp 1 recently received notice from The Nasdaq Stock Market regarding the delisting of its securities. This action was initiated due to the company’s failure to complete its initial business combination by November 2, 2024, in accordance with Nasdaq rules.
The company’s securities are expected to be delisted from Nasdaq, with trading suspended as of November 11, 2024. However, trading on the OTC market is anticipated to commence shortly afterward, and the delisting will not impact the ongoing Business Combination with Flybondi Limited. The combined entity, Flybondi Holdings plc, is working towards listing its securities on the Nasdaq Stock Market upon completion of the merger.
Integral Acquisition Corp 1 also reported approvals on certain proposals presented to its stockholders during a recent meeting, including extending the deadline for a Business Combination and re-electing directors. Additionally, the company received authorization for the ratification of Marcum LLP as its independent registered public accounting firm.
Lastly, the filing indicated amendments to the company’s amended and restated certificate of incorporation and provided voting results along with other necessary disclosures as per SEC regulations.
For additional details and the full content of the 8-K filing, interested parties are encouraged to refer directly to the document.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Integral Acquisition Co. 1’s 8K filing here.
About Integral Acquisition Co. 1
Integral Acquisition Corporation 1 does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the technology-oriented company in Australia and New Zealand.
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