Item 5.03. |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On June 27, 2023, Marblegate Acquisition Corp. (the “Company”) filed an amendment to the Company’s Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware (the “Extension Amendment”). The Extension Amendment extends the date by which the Company must consummate its initial business combination from July 5, 2023 to January 5, 2024, or such earlier date as determined by the Company’s board of directors (the “Board”).
The foregoing description is qualified in its entirety by reference to the Extension Amendment, a copy of which is attached as Exhibit 3.1 hereto and is incorporated by reference herein.
Item 5.07. |
Submission of Matters to a Vote of Security Holders. |
On June 27, 2023, the Company held a special meeting of shareholders (the “Meeting”) to approve the Extension Amendment Proposal, the Conversion Amendment Proposal, the Redemption Limitation Amendment Proposal, and the Adjournment Proposal, each as more fully described in its definitive proxy statement, filed with United States Securities and Exchange Commission (the “Commission”) on June 5, 2023.
The final voting results for the Extension Proposals were as follows:
Proposal No. 1: The Extension Amendment Proposal: To amend the Company’s amended and restated certificate of incorporation by allowing the Company to extend the date by which it has to consummate a business combination for an additional six (6) months, from July 5, 2023 to January 5, 2024, or such earlier date as determined by the Company’s board of directors.
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FOR |
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AGAINST |
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ABSTAIN |
9,498,206 |
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15,302 |
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1,200 |
Proposal No. 2 The Conversion Amendment Proposal: To amend the Company’s amended and restated certificate of incorporation to provide for the elective right of holders of shares of the Company’s Class B common stock, par value $0.0001 per share, to convert such shares into shares of the Company’s Class A common stock, on a one-for-one basis at any time prior to the closing of a business combination.
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FOR |
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AGAINST |
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ABSTAIN |
8,279,469 |
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0 |
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0 |
Proposal 3: Redemption Limitation Amendment Proposal. To amend the Company’s amended and restated certificate of incorporation to eliminate from the Charter the limitation that the Company may not redeem public shares to the extent that such redemption would result in the Company having net tangible assets (as determined in accordance with Rule 3a51-1(g)(1) of the Securities Exchange Act of 1934 of less than $5,000,001 (the “Redemption Limitation”) in order to allow the Company to redeem public shares irrespective of whether such redemption would exceed the Redemption Limitation.
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FOR |
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AGAINST |
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ABSTAIN |
9,513,106 |
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402 |
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1,200 |
Proposal No. 4: The Adjournment Proposal. The Company had solicited proxies in favor of an Adjournment Proposal which would have given the Company authority to adjourn the Meeting to solicit additional proxies. As sufficient shares were voted in favor of the Extension Amendment Proposal, this proposal was not voted upon at the Meeting.
Stockholders holding 244,327 shares of the Company’s Class A common stock (“Public Shares”) exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s trust account. As a result, approximately $2.5 million (approximately $10.29 per share) will be removed from the Company’s trust account to pay such holders. Following redemptions, the Company will have 766,064 Public Shares outstanding.