SEC Filing Summary: Western Acquisition Ventures Corp.
Business Context and Reporting Period
This Form 8-K was filed by Western Acquisition Ventures Corp. (WAVS) on October 10, 2024, reporting events occurring on October 9, 2024. The registrant is a Special Purpose Acquisition Company (SPAC) incorporated in Delaware and listed on the NASDAQ. The filing details the results of a special meeting of stockholders held to approve an extension of the company's deadline to consummate a business combination.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, or operating margins, as the company is in a pre-business combination phase. The only specific financial figure disclosed relates to a proposed amendment to the investment management trust agreement, which allows the company to extend its termination date by depositing $100 into the Trust Account.
Material Changes and Voting Results
On October 9, 2024, stockholders approved three key proposals at a virtual special meeting:
- Extension of Termination Date: The date by which the company must consummate a business combination was extended from October 11, 2024, to January 11, 2025 (a three-month extension).
- Trust Agreement Amendment: Approval was granted to amend the investment management trust agreement to facilitate the extension via a $100 deposit.
- Adjournment Authority: The chairman was authorized to adjourn the meeting if necessary to solicit further votes.
Voting Statistics:
- Total shares eligible to vote: 3,497,472
- Total shares represented: 3,365,698
- For all three proposals: 3,364,473
- Against all three proposals: 1,225
- Abstain/Non-votes: 0
Outlook and Management Commentary
Management has secured an additional three months to identify and complete a business combination. The filing indicates that the Charter Amendment was filed with the Delaware Secretary of State on October 9, 2024. No specific guidance regarding potential target companies or future financial projections was included in this report.
Investor Verification Checklist
- Verify the new mandatory termination date of January 11, 2025, for the consummation of a business combination.
- Confirm the status of the Trust Account and the impact of the $100 deposit provision on shareholder redemption rights.
- Review the Sixth Amendment to the Certificate of Incorporation (Exhibit 3.1) for any other changes to corporate governance or shareholder rights.
- Monitor subsequent filings for updates on the search for a target company within the new three-month window.