M&A - Plum Acquisition Corp. III

Form Type: 10-K

Filing Date: 2025-03-28

Corporate Action: Merger

Type: Update

Accession Number: 000101376225004252

Filing Summary: Plum Acquisition Corp. III, a blank check company formed to effect a merger or business combination, is updating its shareholders regarding significant developments and agreements. The company was formed under Cayman Islands law, and its IPO was completed on July 30, 2021, raising approximately $282.5 million which is held in a trust account for the purpose of completing a Business Combination. Shareholders had their rights to redeem shares for cash at various points, notably at an approximate valuation of $10.78 per share during the January 2024 Extraordinary General Meeting. Recent developments include a Business Combination Agreement with Tactical Resources Corp. and other entities, set to smooth the transition to a newly amalgamated corporation in British Columbia following multiple extensions of their deadline to consummate the initial business combination. Key amendments to corporate documents were also filed to allow these extensions and modify asset requirements for closing. The report details mechanisms for shareholder redemptions and liquidation procedures if the Business Combination is not completed by July 30, 2025. The targeted amalgamations will simplify the corporate structure while ensuring compliance with applicable laws.

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Form Type: 425

Filing Date: 2025-01-30

Corporate Action: Merger

Type: Update

Accession Number: 000121390025008045

Filing Summary: On January 28, 2025, Plum Acquisition Corp. III and Tactical Resources Corp. entered into Amendment No. 2 to their Business Combination Agreement, originally dated August 22, 2024. The Amendment mandates that certain recently issued convertible debentures of Tactical, and any future issuances, will be treated similarly to existing convertible debentures as per the terms of the Business Combination Agreement. This communication is part of compliance under Rule 425 and follows the suspension of trading for Plum's securities on Nasdaq effective January 27, 2025, due to failure to meet listing standards. Subsequently, trading in Plum's securities resumed on the OTC Markets under the symbols PLMJF, PLMWF, and PLMUF. This document also announces the impending filing of a registration statement for the Business Combination, urging investors to review the detailed documents when available, as they will contain essential information regarding the transaction.

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Form Type: 8-K

Filing Date: 2025-01-30

Corporate Action: Merger

Type: Update

Accession Number: 000121390025008041

Filing Summary: On January 28, 2025, Plum Acquisition Corp. III (Plum) entered into Amendment No. 2 to the Business Combination Agreement, originally dated August 22, 2024, with Tactical Resources Corp. This amendment stipulates that recently issued convertible debentures of Tactical will share the same terms set out in the Business Combination Agreement, aligning them with already existing convertible debentures of Tactical. Additionally, Plum's Class A ordinary shares, warrants, and units were delisted from Nasdaq due to non-compliance with continued listing requirements, effective January 27, 2025. Subsequently, these securities began trading on the Pink Current tier of the OTC Markets on January 28, 2025, under the symbols PLMJF, PLMWF, and PLMUF.

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Form Type: DEF 14A

Filing Date: 2024-12-31

Corporate Action: Merger

Type: New

Accession Number: 000121390024113923

Filing Summary: Plum Acquisition Corp. III is conducting an extraordinary general meeting on January 16, 2025, to vote on proposals related to extending the timeline for completing a business combination. The proposals include an Extension Amendment Proposal to extend the termination date for the combination from January 30, 2025, to July 30, 2025, an amendment to eliminate the net tangible asset requirement for the business combination, and an Adjournment Proposal if necessary. If the extension is not approved, Plum may be forced to liquidate despite shareholder preferences. The proxy statement outlines the procedures for voting and provisions for shareholders to redeem their shares. As of December 30, 2024, the redemption price is approximately $11.19 per share, based on the trust account value. The Board believes that securing the extension is critical for the future of the business combination, emphasizing its importance for the company and its shareholders.

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