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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):
March 4, 2024
KINGSWOOD ACQUISITION CORP.
(Exact name of registrant as specified in its charter)
Delaware |
001-39700 |
85-2432410 |
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
17 Battery Place, Room 625
New York, New York 10004
(Address of principal executive offices, including
zip code)
Registrant’s telephone number, including
area code: (212) 404-7002
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) |
x |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
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 |
|
Trading
Symbol(s) |
|
Name
of Each Exchange
on Which Registered |
None |
|
|
|
|
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.
Kingswood Acquisition Corp. a Delaware corporation
(“we”, “us”, “our”, or the “Company”) today issued a press
release announcing that its special meeting of stockholders will be further postponed from its scheduled time of 11:00 a.m. Eastern Time
on March 6, 2024 to 11:00 a.m. Eastern Time on March 8, 2024.
The Company also announced that, as a result of
such postponement, it has extended the deadline for the delivery of redemption demands in connection with special meeting to 5:00 p.m.,
New York time, on March 6, 2024 (two business days prior to the new special meeting date).
The special meeting will still be held via live
webcast at www.cstproxy.com/kingswoodacquisition/2024 and there has been no change to the record date for, the purpose of or any of the
proposals to be acted upon at the special meeting. Stockholders who have questions or need assistance in connection with the special meeting
should contact the Company’s proxy solicitor, Morrow Sodali LLC, at 333 Ludlow Street, 5th Floor, South Tower, Stamford, Connecticut
06902, KWAC.info@investor.morrowsodali.com.
The press release is attached hereto as
Exhibit 99.1 and is incorporated by reference herein.
About the Company
The Company is a blank check company incorporated
under the laws of the State of Delaware on July 27, 2020 for the purpose of effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization, or similar business combination with one or more businesses, which is referred to herein as
an initial business combination. While the Company may pursue an initial business combination target in any stage of its corporate evolution
or in any industry or sector, the Company is focusing its search on companies with favorable growth prospects and attractive returns on
invested capital.
Additional Information and Where to Find It
In connection with the Business Combination, Binah Capital Group, Inc
(“Holdings”) has filed a registration statement on Form S-4 (File No. 333-269004) (as may
be amended from time to time, the “Registration Statement”) that includes a definitive proxy statement of the Company
and a definitive prospectus of Holdings relating to the Business Combination. After the Registration Statement was declared effective
on February 14, 2024, the definitive proxy statement/prospectus was mailed to shareholders of the Company as of February 2, 2024, the
record date established for voting on the Business Combination. This report does not contain all the information that should be considered
concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other
decision in respect of such matters. Holdings and the Company may also file other documents with the SEC regarding the Business Combination.
The Company’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other
documents filed in connection with the Business Combination, as these materials will contain important information about the Company, Wentworth
Management Services, LLC (“Wentworth”), Holdings and the Business Combination. Stockholders and other interested persons are
also able to obtain copies of the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, at the
SEC’s website at http://www.sec.gov, or by directing a request to the Company at 17 Battery Place, Room 625, New York, New
York 10004 or by telephone at (212) 404-7002, or to the Company’s proxy solicitor, Morrow Sodali LLC, at 333 Ludlow Street, 5th
Floor, South Tower, Stamford, Connecticut 06902, KWAC.info@investor.morrowsodali.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements herein may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements can be identified
by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,”
“assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions.
Forward-looking statements are statements that are not historical facts, and are subject to risks and uncertainties, which could cause
actual results to differ from the forward-looking statements. Factors that may cause such differences include, without limitation, the
Company’s ability to accurately calculate the amount of taxes owed that can be withdrawn from interest earned in the trust account,
the amount of funds that may be available in the Company’s trust account following redemptions, permitted withdrawals, and other
risks and uncertainties indicated from time to time in filings with the Securities and Exchange Commission (“Commission”),
including the Registration Statement, the definitive proxy statement relating to the special meeting of the Company’s stockholders
to vote upon the Company’s initial business combination and related matters and the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2022, in each case under the heading “Risk Factors,” and other documents the Company and
Holdings have filed, or will file, with the Commission.
Readers are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. The Company and Holdings expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations
with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Participants in the Solicitation
The Company, Wentworth, Holdings and the other
parties to the Business Combination and their respective directors and executive officers may be deemed to be participants in the solicitation
of proxies from the Company’s stockholders in connection with the proposed transaction. Information about the Company’s directors
and executive officers and their ownership of the Company’s securities is set forth in the Company’s filings with the SEC.
Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction
may be obtained by reading the definitive proxy statement/prospectus regarding the proposed transaction. You may obtain free copies of
these documents as described in the preceding paragraph.
Non-Solicitation
This report relates to a proposed business combination between the
Company, Wentworth and Holdings. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy
or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would
be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits:
Exhibit
No. |
|
Description
of Exhibits |
99.1 |
|
Press Release |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
|
Kingswood Acquisition Corp. |
|
|
|
Dated: March 4, 2024 |
By: |
/s/ Michael Nessim |
|
Name: |
Michael Nessim |
|
Title: |
Chief Executive Officer |
Exhibit 99.1
KINGSWOOD ACQUISITION CORP. FURTHER POSTPONES
SPECIAL MEETING
NEW
YORK, NEW YORK, March 4, 2024 – Kingswood Acquisition Corp. (OTC: KWAC) (the “Company”) announced today
that the special meeting of the Company’s stockholders to vote upon the Company’s initial business combination and related
matters, which was originally scheduled for February 22, 2024 and postponed to March 6, 2024, has been further postponed to Friday, March
8, 2024 at 11:00 a.m., Eastern Time.
As
a result of such postponement, the Company has extended the deadline for the delivery of redemption demands in connection with special
meeting to 5:00 p.m., New York time, on March 6, 2024 (two business days prior to the new special meeting date).
The special meeting will still be held via live
webcast at www.cstproxy.com/kingswoodacquisition/2024 and there has been no change to the record date for, the purpose of or any of the
proposals to be acted upon at the special meeting. Stockholders who have questions or need assistance in connection with the special meeting
should contact the Company’s proxy solicitor, Morrow Sodali LLC, at 333 Ludlow Street, 5th Floor, South Tower, Stamford, Connecticut
06902, KWAC.info@investor.morrowsodali.com.
About the Company
The Company is a blank check company incorporated
under the laws of the State of Delaware on July 27, 2020 for the purpose of effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization, or similar business combination with one or more businesses, which is referred to herein as
an initial business combination. While the Company may pursue an initial business combination target in any stage of its corporate evolution
or in any industry or sector, the Company is focusing its search on companies with favorable growth prospects and attractive returns on
invested capital.
Additional Information and Where to Find It
In connection with the Business Combination, Binah Capital Group, Inc
(“Holdings”) has filed a registration statement on Form S-4 (File No. 333-269004) (as may
be amended from time to time, the “Registration Statement”) that includes a definitive proxy statement of the Company
and a definitive prospectus of Holdings relating to the Business Combination. After the Registration Statement was declared effective
on February 14, 2024, the definitive proxy statement/prospectus was mailed to shareholders of the Company as of February 2, 2024, the
record date established for voting on the Business Combination. This report does not contain all the information that should be considered
concerning the Business Combination and other matters and is not intended to provide the basis for any investment decision or any other
decision in respect of such matters. Holdings and the Company may also file other documents with the SEC regarding the Business Combination.
The Company’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other
documents filed in connection with the Business Combination, as these materials will contain important information about the Company, Wentworth
Management Services, LLC (“Wentworth”), Holdings and the Business Combination. Stockholders and other interested persons are
also able to obtain copies of the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, at the
SEC’s website at http://www.sec.gov, or by directing a request to the Company at 17 Battery Place, Room 625, New York, New
York 10004 or by telephone at (212) 404-7002, or to the Company’s proxy solicitor, Morrow Sodali LLC, at 333 Ludlow Street, 5th
Floor, South Tower, Stamford, Connecticut 06902, KWAC.info@investor.morrowsodali.com.
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements herein may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements can
be identified by the use of words such as “believes,” “expects,” “intends,” “plans,” “estimates,”
“assumes,” “may,” “should,” “will,” “seeks,” or other similar expressions.
Forward-looking statements are statements that are not historical facts, and are subject to risks and uncertainties, which could cause
actual results to differ from the forward-looking statements. Factors that may cause such differences include, without limitation, the
Company’s ability to accurately calculate the amount of taxes owed that can be withdrawn from interest earned in the trust account,
the amount of funds that may be available in the Company’s trust account following redemptions, permitted withdrawals, and other
risks and uncertainties indicated from time to time in filings with the Securities and Exchange Commission (“Commission”),
including the Registration statement, the definitive proxy statements relating to the special meeting and the Company’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2022, in each case under the heading “Risk Factors,” and other documents
the Company and Holdings have filed, or will file, with the Commission.
Readers are cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. The Company and Holdings expressly disclaims any obligations or undertaking to release
publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations
with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Participants in the Solicitation
The Company, Wentworth, Holdings and the other
parties to the Business Combination and their respective directors and executive officers may be deemed to be participants in the solicitation
of proxies from the Company’s stockholders in connection with the proposed transaction. Information about the Company’s directors
and executive officers and their ownership of the Company’s securities is set forth in the Company’s filings with the SEC.
Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed transaction
may be obtained by reading the definitive proxy statement/prospectus regarding the proposed transaction. You may obtain free copies of
these documents as described in the preceding paragraph.
Non-Solicitation
This report relates to a proposed business combination between the
Company, Wentworth and Holdings. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy
or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would
be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
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