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):
April 7, 2023
Liberty Resources Acquisition Corp.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
001-40883 |
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86-3485220 |
(Commission File Number) |
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(IRS Employer Identification No.) |
78 SW 7th Street
Suite 500
Miami, Florida 33130
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code 1-305-809-7217
(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:
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x |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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 |
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Trading Symbol(s) |
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Name of Each Exchange on Which Registered |
Units, each consisting of one share of Class A Common Stock and one Redeemable Warrant |
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LIBYU |
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The Nasdaq Stock Market LLC |
Class A Common Stock, $0.0001 par value per share |
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LIBY |
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The Nasdaq Stock Market LLC |
Redeemable Warrants, each warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share |
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LIBYW |
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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. ¨
Adjustment of Risk Factor Concerning Excise
Tax
On April 3, 2023, Liberty Resources Acquisition
Corp. (“Liberty”) filed its definitive proxy statement with the SEC on Schedule 14A. In connection therewith, a risk factor
titled “A new 1% U.S. federal excise tax could be imposed on us in connection with redemptions by us of our shares”
was included which risk factor is now being modified to read as follows:
A new 1% U.S. federal excise tax could be
imposed on us in connection with redemptions by us of our shares.
On August 16, 2022, the Inflation Reduction Act
of 2022 (the “IR Act”) was signed into federal law. The IR Act provides for, among other things, a new U.S. federal 1% excise
tax (the “Excise Tax”) on certain repurchases (including redemptions) of stock by publicly traded domestic (i.e., U.S.) corporations
and certain domestic subsidiaries of publicly traded foreign corporations. The excise tax is imposed on the repurchasing corporation itself,
not its stockholders from which shares are repurchased. The amount of the excise tax is generally 1% of the fair market value of the shares
repurchased at the time of the repurchase.
Any redemption or other repurchase that occurs
in connection with an initial business combination or otherwise, may be subject to the excise tax. Whether and to what extent the Company
would be subject to the excise tax in connection with an initial business combination would depend on a number of factors, including (i)
the fair market value of the redemptions and repurchases in connection with the initial business combination, (ii) the structure of the
initial business combination, (iii) the nature and amount of any “PIPE” or other equity issuances in connection with the initial
business combination (or otherwise issued not in connection with the initial business combination but issued within the same taxable year
of the initial business combination) and (iv) the content of regulations and other guidance from the U.S. Department of the Treasury.
In addition, because the excise tax would be payable by the Company, and not by the redeeming holder, the mechanics of any required payment
of the excise tax have not been determined.
For the avoidance of doubt, the proceeds placed
in the Company’s trust account and the interest earned thereon shall not be used to pay for any excise tax due under the IR Act
in connection with any redemptions of the Company’s Class A common stock prior to or in connection with its initial business combination.
Additional Information and Where to Find It
As discussed above, Liberty intends to file the
Prospectus and Proxy Statement with the SEC, which Prospectus and Proxy Statement will be delivered to its stockholders once definitive.
This document does not contain all the information that should be considered concerning the Business Combination and the other Stockholder
Approval Matters and is not intended to form the basis of any investment decision or any other decision in respect of the Business Combination
and the other Stockholder Approval Matters. Liberty’s stockholders and other interested persons are advised to read, when available,
the Prospectus and Proxy Statement and the amendments thereto and other documents filed in connection with the Business Combination and
other Stockholder Approval Matters, as these materials will contain important information about Liberty, CaspiOilGas LLP (“COG”),
Markmore Energy Labuan Limited, the Business Combination and the other Stockholder Approval Matters. When available, the Prospectus and
Proxy Statement and other relevant materials for the Business Combination and other Stockholder Approval Matters will be mailed to stockholders
of Liberty as of a record date to be established for voting on the Business Combination and the other Stockholder Approval Matters. Stockholders
will also be able to obtain copies of the Prospectus and Proxy Statement and other documents filed with the SEC, without charge, once
available, at the SEC’s website at www.sec.gov, or by directing a request to: Liberty Resources Acquisition Corp., 78 SW 7th
Street, Suite 500, Miami, Florida 33130.
No Offer or Solicitation
This Current Report on Form 8-K is for informational
purposes only and is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization
with respect to any securities or in respect of the Business Combination or PIPE Financing and is not intended to and shall not constitute
an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation
of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No
offering of securities shall be made except by means of prospectus meeting the requirements of Section 10 of the Securities Act of 1933,
as amended, or an exemption therefrom.
Participants in Solicitation
COG and its directors and executive officers may
be deemed participants in the solicitation of proxies from Liberty’s stockholders with respect to the Business Combination and related
matters. A list of the names of those directors and executive officers and a description of their interests in Liberty is contained in
Liberty’s Registration Statement on Form S-1, as filed on September 3, 2021 and last amended on October 12, 2021, which was filed
with the SEC and is available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to Liberty Resources
Acquisition Corp., 78 SW 7th Street, Suite 500, Miami, Florida 33130. Additional information regarding the interests of such
participants will be contained in the Prospectus and Proxy Statement when available.
COG and its directors, managers, and executive
officers may also be deemed to be participants in the solicitation of proxies from Liberty’s stockholders in connection with the
Business Combination and related matters. A list of the names of such parties and information regarding their interests in the Business
Combination and related matters will be included in the Prospectus and Proxy Statement when available.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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LIBERTY RESOURCES ACQUISITION CORP. |
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Date: April 7, 2023 |
By: |
/s/ Dato’ Maznah Binti Abdul Jalil |
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Name: |
Dato’ Maznah Binti Abdul Jalil |
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Title: |
Chief Executive Officer |
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