Correct.. And could be total coincidence x 2 but the timing is a curiosity along with the announcement that PIAI Spac has issued a letter of intent to the target... Whoever that may be? But what if the initial analysis was good enough for someone who may or may not have been aware of the potential shown by earlier platform data results be confident enough to now make a move before someone else does?
One that would possibly also trigger the royalty payment due to Imec should a license income agreement also be struck in the process?
"imec and 4DS have negotiated to again extend the collaboration agreement to the end of 2022. Under this agreement 4DS has committed to pay imec an additional 600,000 Euro for the first 7 months in 2022.
In August 2022 imec and 4DS will review the requirements for the balance of the year.""Whilst the collaboration with imec remains in place imec is entitled to a capped royalty of 8% on 4DS’ License Income. To date the Company has not made any royalty payments to imec, since payments are only due on any licence revenue generated by 4DS
or a sale of the Company.Either would possibly warrant a halt, but as always the wording gives little away.. 8tey
Submitted:
2022-08-04Filing Agent: CIK: 0001193125
PRIME IMPACT ACQUISITION I
123 E San Carlos Street, Suite 12
San Jose, CA 95112
NOTICE OF EXTRAORDINARY GENERAL MEETING
TO BE HELD [●], 2022
The General Meeting will be held for the sole purpose of considering and voting upon:
The Extension Proposal — to consider and vote upon a proposal by the following special resolution to amend (the “Extension Proposal”) the Company’s amended and restated memorandum and articles of association (together, the “Existing Charter”) to: (i) extend from September 14, 2022 (the “Original Termination Date”) to December 14, 2022 (the “Extended Date”), the date (the “Termination Date”) by which, if the Company has not consummated a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganisation or similar business combination involving one or more businesses or entities, the Company must:
(a) cease all operations except for the purpose of winding up;
(b) as promptly as reasonably possible but not more than ten business days thereafter, redeem the shares sold in the Company’s initial public offering (the “Public Shares”);
and (c) as promptly as reasonably possible following such redemption liquidate and dissolve, subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements of applicable law, provided that the Sponsor (or its affiliates or permitted designees) (the “Lender”) will deposit into the Trust Account the lesser of (A) US$1,100,000 or (b) $0.11 for each Public Share that is not redeemed in connection with the General Meeting, in exchange for one or more non-interest bearing, unsecured promissory notes issued by the Company to the Lender
The proposed amendment to the Existing Charter pursuant to the Extension Proposal is referred to herein as the “Extension Amendment”.
The Company has identified a potential business combination target company with international operations (the “Target”) for an initial business combination (the “Potential Business Combination”). The Company believes the Target is a compelling opportunity for the Company’s initial business combination and has entered into a letter of intent to consummate an initial business combination involving the Target. Such letter of intent is non-binding. The execution of a definitive business combination agreement is subject to several conditions, including the completion of due diligence and negotiation and preparation of documentation. The Company cannot assure you that it will enter into a definitive business combination agreement with the Target.
The purpose of the Extension Proposal is to allow the Company additional time to complete the Potential Business Combination or any potential alternative initial business combination. The Company’s prospectus for its initial public offering (“IPO”) and its Existing Charter provide that the Company has until September 14, 2022 to complete an initial business combination. Accordingly, the Board has determined that it is in the best interests of our shareholders to extend the date that the Company has to consummate an initial business combination.
The proposed amendment to the Existing Charter pursuant to the Extension Proposal is referred to herein as the “Extension Amendment”.
The Company has identified a potential business combination target company with international operations (the “Target”) for an initial business combination (the “Potential Business Combination”). The Company believes the Target is a compelling opportunity for the Company’s initial business combination and has entered into a letter of intent to consummate an initial business combination involving the Target. Such letter of intent is non-binding. The execution of a definitive business combination agreement is subject to several conditions, including the completion of due diligence and negotiation and preparation of documentation. The Company cannot assure you that it will enter into a definitive business combination agreement with the Target.
The purpose of the Extension Proposal is to allow the Company additional time to complete the Potential Business Combination or any potential alternative initial business combination. The Company’s prospectus for its initial public offering (“IPO”) and its Existing Charter provide that the Company has until September 14, 2022 to complete an initial business combination. Accordingly, the Board has determined that it is in the best interests of our shareholders to extend the date that the Company has to consummate an initial business combination.
If the Extension Proposal is approved, the Company would have up to an additional six months after the Original Termination Date to consummate the Potential Business Combination or any potential alternative initial business combination, until March 14, 2023, which is a total of up to 30 months from the consummation of the Company’s IPO to complete an initial business combination.
If the Extension Proposal is approved and the Extension Amendment becomes effective, prior to filing the Extension Amendment, our Sponsor (or its affiliates or permitted designees) (the “Lender”) shall make a deposit into the Trust Account of (i) the lesser of (a) an aggregate of $1,100,000 or (b) $0.11 for each Public Share that is not redeemed in connection with the General Meeting, in exchange for one or more non-interest bearing, unsecured promissory notes issued by the Company to the Lender. In addition, if the Extension Proposal is approved and the Extension Amendment becomes effective, in the event that the Company has not consummated an initial business combination by December 14, 2022, without approval of the Company’s shareholders, the Company may, by resolution of the board of directors of the Company if requested by our Sponsor, and upon five days’ advance notice prior to the applicable Termination Date extend the Termination Date up to three times, each by one additional month (for a total of up to three additional months to complete a business combination)
@Brabant90 What do you think brother? Seem like a plan?
