Current Report Filing (8-k)
November 09 2022 - 7:31AM
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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): November 4, 2022
Maquia Capital Acquisition Corporation
(Exact name of registrant as specified in its charter)
Delaware |
|
001-40380 |
|
85-4283150 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
50 Biscayne Boulevard, Suite 2406
Miami, FL 33132
(Address of principal executive offices, including
zip code)
Registrant’s telephone number, including
area code: (305) 608-1395
Not Applicable
(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:
¨ |
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 240.13(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading
Symbol(s) |
|
Name of each exchange
on
which
registered |
Units, each consisting of one share of Class A Common Stock and one-half of one Redeemable Warrant |
|
MAQCU |
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The Nasdaq Stock Market LLC |
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Class A Common Stock, par value $0.0001 per share |
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MAQC |
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The Nasdaq Stock Market LLC |
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Redeemable warrants, each whole warrant exercisable for one share of Class A Common Stock for $11.50 per share |
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MAQCW |
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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.
Item 5.03. Amendments
to Articles of Incorporation or Bylaws; Change in Fiscal Year.
On
November 4, 2022, Maquia Capital Acquisition Corporation (the “Company”) held a special meeting in lieu of the 2022
annual meeting of stockholders (the “Meeting”). At the Meeting, the Company’s stockholders approved an amendment
to the Company’s Amended and Restated Certificate of Incorporation (the “Charter Amendment”) to extend the date
by which the Company must consummate its initial business combination from November 7, 2022 to May 7, 2023 or such earlier date as determined
by the Company’s board of directors (the “Board”). The Company filed the Charter Amendment with the Secretary
of State of the State of Delaware on November 4, 2022.
The
foregoing description is qualified in its entirety by reference to the Charter 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.
At
the Meeting, an aggregate of 16,472,497 shares of the Company’s common stock, which represents a quorum of the outstanding common
stock entitled to vote as of the record date of September 30, 2022, were represented in person or by proxy at the Meeting.
At
the Meeting, the Company’s stockholders voted on the following proposals, each of which was approved:
(1)
The Extension Amendment Proposal - a proposal to amend the Company’s amended and
restated certificate of incorporation to extend the date by which the Company has to consummate an initial business combination from November
7, 2022 to May 7, 2023, or such earlier date as determined by the Board. The following is a tabulation of the votes with respect to this
proposal, which was approved by the Company’s stockholders:
For |
|
Against |
|
Abstain |
|
Broker Non-Votes |
16,472,402 |
|
95 |
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0 |
|
0 |
(2)
The Director Election Proposal — to elect two persons as Class I directors (to serve until 2024 or until a successor is elected
and qualified or their earlier resignation or removal). The following is a tabulation of the votes with respect to the election of directors,
each of whom was elected by the Company’s stockholders:
Name |
|
For |
|
Withhold |
|
|
Pedro Manuel Zorrilla Velasco |
|
15,023,712 |
|
1,448,785 |
|
|
Luis Antonio Marquez-Heine |
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15,151,872 |
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1,320,625 |
|
|
In
connection with the Meeting, stockholders holding 13,769,910 shares of 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 (“Trust Account”). As
a result, approximately $143.5 million (approximately $10.42 per Public Share) will be removed from the Trust Account to pay such holders
and approximately $36.9 million will remain in the Trust Account. Following redemptions, the Company will have 3,539,809 Public Shares
outstanding.
As
a result of stockholder approval of the Charter Amendment and the Company’s implementation thereof, Maquia
Investments North America, LLC (the “Sponsor”) or its designees will contribute to the Company as a loan an aggregate
of $ 0.045 for each share of Class A commons stock that is not redeemed, for each calendar month (commencing on November 7, 2022
and on the 7th day of each subsequent month) until May 7, 2023 (each, an “Extension Period”), or portion thereof, that is
needed to complete an initial business combination (the “Contribution”).
Based
on the outstanding 3,539,809 Public Shares following redemptions as disclosed above, each monthly Contribution will be $159,291.41, which
will be deposited in the Trust Account within five (5) business days from the beginning of such
calendar month (or portion thereof). The Company will have the sole discretion whether to continue extending for additional calendar
months until May 7, 2023. If the Company opts not to utilize any remaining portion of the Extension Period, then the Company will liquidate
and dissolve promptly in accordance with its charter, and its Sponsor’s obligation to make additional Contributions will terminate.
Item 9.01 Financial Statements and Exhibits.
(d) |
Exhibits. The following exhibits are filed with this Form 8-K: |
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: November 9, 2022 |
Maquia Capital Acquisition Corporation |
|
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By: |
/s/ Jeronimo Peralta |
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Name: |
Jeronimo Peralta |
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Title: |
Chief Financial Officer |
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