Insight Acquisition Corp. Reports Voting Results from Special Meeting

Insight Acquisition Corp. (OTCMKTS:INAQU) recently disclosed the outcome of its Special Meeting of Stockholders held on October 29, 2024. The meeting, which revolved around crucial proposals, witnessed a high level of participation from the company’s shareholders.

One of the key proposals considered during the meeting was the Business Combination Proposal. Shareholders voted on an agreement dated October 13, 2023, amended by a subsequent agreement on June 21, 2024, involving IAC, IAC Merger Sub Inc., and Alpha Modus Corp. This proposal, essential for the merger of Merger Sub with Alpha Modus, with Alpha Modus as the surviving entity and wholly-owned subsidiary of IAC, required approval from a significant portion of the company’s outstanding common stock.

The voting results for the Business Combination Proposal showed overwhelming support, with a total of 5,555,475 shares in favor, representing approximately 85.22% of the outstanding common stock of the company.

In addition to the Business Combination Proposal, another significant vote was cast on the Amended and Restated Charter Proposal. This proposal involved amending IAC’s certificate of incorporation in connection with the Business Combination, including authorizing new shares of preferred stock. Similar to the Business Combination Proposal, shareholders showed solid support for the Amended and Restated Charter Proposal.

Furthermore, a Nasdaq Proposal was presented to ensure compliance with the listing rules of the Nasdaq Stock Market, related to the issuance of shares of IAC common stock pursuant to the Business Combination Agreement. The shareholders once again backed this proposal, with 100% approval from those present at the Special Meeting.

Following the voting at the Special Meeting, 426,135 shares were tendered for redemption, indicating the shareholders’ actions.

It is vital to note that this report is intended solely for informational purposes and is not a solicitation of any kind. The voting outcomes signify the shareholders’ support for the proposed actions, underscoring confidence in Insight Acquisition Corp.’s strategic decisions and future endeavors.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Insight Acquisition’s 8K filing here.

Insight Acquisition Company Profile

Insight Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on business in the FinTech, wealth, asset, investment management, and insurance tech sectors.