Business Context and Reporting Period
This Form 8-K was filed by Western Acquisition Ventures Corp. on December 30, 2022. The filing concerns a special meeting of stockholders related to extending the deadline to complete a business combination. The provided metadata identifies Cycurion, Inc., but the filing’s registrant is Western Acquisition Ventures Corp.
Financial and Operating Metrics
The filing does not provide revenue, earnings, cash flow, margins, debt, liquidity, or other financial results.
Material Changes and Meeting Results
- Of 14,751,000 shares entitled to vote, 9,104,051 shares were represented at the meeting, constituting a quorum.
- The meeting was adjourned because there were insufficient votes to approve Proposal 1, which would amend the certificate of incorporation to extend the period for completing a business combination.
- Proposal 1 required approval by 65% of the outstanding shares.
- The adjournment itself was approved by 8,694,183 shares in favor and 409,868 shares against, with no abstentions or broker non-votes.
- The meeting was adjourned to January 6, 2023, at 10:00 a.m. Eastern time, to consider the proposals described in the meeting notice.
Outlook, Risks, and Unusual Items
The key contingency is whether stockholders subsequently approve the proposed extension of the business-combination deadline. Failure to obtain the required vote could affect the company’s ability to complete a business combination within its permitted timeframe. The filing does not provide additional management commentary, financial guidance, or details regarding liquidation or redemption consequences.
Investor Verification Checklist
- Verify the registrant identity, as the filing names Western Acquisition Ventures Corp., not Cycurion, Inc.
- Confirm the outcome of the adjourned January 6, 2023 meeting and whether the extension proposal was approved.
- Review the meeting notice for the proposed deadline extension, redemption terms, and other voting proposals.
- Assess subsequent SEC filings for any business-combination agreement, liquidation-related actions, or changes in shareholder rights.