M&A - Spark I Acquisition Corp

Form Type: DEFA14A

Filing Date: 2025-06-27

Corporate Action: Acquisition

Type: New

Accession Number: 000110465925063691

Filing Summary: Spark I Acquisition Corporation has filed a definitive proxy statement supplement concerning an extraordinary general meeting of shareholders scheduled for July 8, 2025. This supplement provides corrections to proposed amendments regarding the Company’s operating timeline related to business combinations and includes information from a Current Report on Form 8-K. The Company proposes to replace Article 164 of its Memorandum and Articles of Association regarding the procedural requirements if it fails to complete a business combination within 36 months of its initial public offering. If the shareholders approve the proposal to amend the deadline for a business combination to September 29, 2026, monthly contributions will begin on July 11, 2025. The document outlines the conditions for redeeming public shares, the implications of the proposed amendment, and provides details on the sponsor's promissory note for financial contributions. Additionally, it references ongoing negotiations with Kneron Holding Corporation to finalize a binding business combination agreement.

Form Type: 10-K

Filing Date: 2025-03-21

Corporate Action: Acquisition

Type: New

Accession Number: 000141057825000411

Filing Summary: Spark I Acquisition Corp, a Cayman Islands exempted company, is focused on effecting a merger or similar combination with target businesses. The company had its IPO on October 11, 2023, consisting of 10 million Units, with each Unit comprising one Class A ordinary share and one-half of a redeemable warrant. The net proceeds of $100.5 million from the IPO are held in a trust account until the company completes its initial business combination or other specified conditions are met. The company is actively negotiating a binding business combination with Kneron Holding Corporation, a provider of AI solutions, having previously entered non-binding letters of intent with Kneron and another hospitality software business. The company aims to leverage its connections and experience in the SparkLabs ecosystem, which includes over 450 startups, focusing on late-stage technology companies, particularly in Asia, with enterprise valuations over $1 billion. The reporting period ended December 31, 2024, and as of March 17, 2025, there were 10,000,000 Class A shares and 6,422,078 Class B shares outstanding.