M&A - Maquia Capital Acquisition Corp

Form Type: DEF 14A

Filing Date: 2025-01-28

Corporate Action: Merger

Type: New

Accession Number: 000110465925006775

Filing Summary: Maquia Capital Acquisition Corporation is holding a special meeting of stockholders on January 31, 2025, to vote on two proposals: the Extension Amendment Proposal and the Adjournment Proposal. The Extension Amendment Proposal seeks to amend the company's charter to extend the deadline for the consummation of a business combination from February 7, 2025, to February 7, 2026, allowing the Company more time to complete its initial business combination with Velocium, Inc. Affected stockholders may elect to redeem their Class A shares for a calculated cash price based on the trust account balance. Approval requires a 65% majority vote of common stock shares. If the Extension Amendment is not passed, the company may liquidate and redeem public shares at the trust account balance. The document also specifies redemption procedures and voting rights, emphasizing the importance of stockholder participation in the decision-making process. Additionally, it states intentions to ensure that stockholders retain the right to vote on future business combinations if no redemptions are made.

Form Type: PRE 14A

Filing Date: 2025-01-10

Corporate Action: Merger

Type: New

Accession Number: 000110465925002156

Filing Summary: Maquia Capital Acquisition Corporation is holding a special Meeting of Stockholders on January 31, 2025, to consider and vote on two key proposals related to its business combination timeline. The first proposal seeks to amend the company's certificate of incorporation to extend the deadline for completing a merger or similar business combination from February 7, 2025, to February 7, 2026. This change is suggested due to the belief that the board lacks sufficient time before January 31, 2025, to finalize the Business Combination Agreement with Velocium, Inc., made on July 15, 2024. Additionally, stockholders will vote on an Adjournment Proposal to allow more time for proxy solicitation if sufficient votes aren't obtained for the first proposal. Should the Extension Amendment not pass, the company will be required to cease operations, redeem its outstanding public shares, and commence liquidation efforts by February 7, 2025. The expected redemption value of shares held in the trust account is projected to be approximately $12.01 per share. It is emphasized that stockholder approval is crucial for proceeding with the proposed extension and possible future business combinations. Proxy materials were dispatched on January 15, 2025, with important voting guidelines for stockholders included.