Form 8-K Summary
Business Context and Reporting Period
The filing was submitted by Western Acquisition Ventures Corp., the registrant identified in the source text, on January 10, 2024, regarding events occurring on January 9, 2024. The request metadata identifies Cycurion, Inc.; however, the filing text does not identify Cycurion as the registrant.
Western is a special purpose acquisition company that sought additional time to complete a business combination.
Stockholder Vote and Charter Amendment
- At a January 9, 2024 virtual special meeting, stockholders approved an amendment extending the deadline to consummate a business combination from January 11, 2024 to April 11, 2024.
- Of 3,180,410 eligible shares, 3,025,396 shares were represented at the meeting.
- The extension proposal received 3,022,390 votes for, 3,006 against, and no abstentions or non-votes.
- Stockholders also approved an amendment to the investment management trust agreement permitting the extension through a $100 deposit into the trust account.
- A proposal authorizing the chairman to adjourn the meeting, if necessary to solicit additional proxies, was also approved by the same vote.
- The charter amendment was approved on January 9 and filed with the Delaware Secretary of State on January 10, 2024.
Financial Metrics, Liquidity, and Capital Structure
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity balances, trust-account balances, or other operating financial metrics. It only states that $100 may be deposited into the trust account to support the deadline extension.
Material Changes Versus the Prior Period
The material change is the three-month extension of the business-combination deadline, from January 11, 2024 to April 11, 2024. No comparative financial information is provided.
Outlook, Risks, and Unusual Items
- Western must complete a business combination by April 11, 2024, or face the consequences applicable under its governing documents and transaction structure; the filing does not specify those consequences.
- The extension indicates that a business combination had not been completed by the original deadline.
- The filing provides no specific target-company update, transaction terms, operating guidance, or management forecast.
Investor Verification Items
- Confirm whether this filing is intended to relate to Western Acquisition Ventures Corp. or Cycurion, Inc.
- Verify completion of the $100 trust-account deposit and the resulting trust-account balance.
- Review subsequent filings for any business-combination agreement, closing, liquidation, redemption activity, or further deadline extension.
- Assess the applicable consequences if Western did not complete a business combination by April 11, 2024.