Business context and reporting period
Columbus Acquisition Corp. (CAC), a Cayman Islands SPAC, reported the results of its reconvened extraordinary general meeting held September 30, 2026. The filing is dated October 6, 2026. CAC shareholders considered a business combination involving WISeSat.Space Corp., WISeSat.Space Holdings Corp. (Pubco), WISeKey International Holding Ltd. and related parties.
The business combination closed on October 1, 2026. Pubco announced that its ordinary shares began trading on Nasdaq on October 2 under ticker SAIQ.
Key financial and transaction metrics
- 4,494,439 CAC ordinary shares were entitled to vote; 3,589,190 shares, approximately 79.86%, were represented at the meeting.
- 2,515,182 CAC ordinary shares were tendered for redemption and redeemed upon closing.
- Shareholders approved Nasdaq-listed issuance of up to 33,385,052 Pubco ordinary shares in connection with the merger, share exchange and PIPE investment.
- The filing provides no revenue, profit, cash flow, margin, debt or liquidity figures. It does not provide a clear value for cash remaining after redemptions or the PIPE investment proceeds.
Shareholder votes and material changes
All proposals presented were approved. The NTA Proposal, receiving 3,588,892 votes for and 298 against, amended CAC’s charter provisions concerning the $5,000,001 net tangible asset threshold and expanded the methods available to avoid SEC penny-stock rules. The business combination, merger, equity plan, employee share purchase program and Nasdaq issuance proposals each received 3,407,497 votes for and 181,693 against. The employee share purchase program proposal received 3,407,795 votes for and 181,395 against.
Shareholders also approved seven Pubco director nominees: Carlos Moreira, David Fergusson, Cristina Dolan, Peter Ward, Cameron R. Johnson, Gwenael Rouy-Poirier and Philippe D. Monnier. Because the other proposals passed, the adjournment proposal was not presented.
The approved merger-related actions include a 100-for-1 share consolidation and a subsequent reduction in authorized shares, as described in the filing. These are charter/share-capital actions; the filing does not quantify resulting investor-level ownership effects here.
Outlook, risks and unusual items
The transaction is reported as completed, rather than pending. The high number of redemptions is a material transaction consideration; the filing does not state the resulting cash balance or provide operating outlook or guidance. CAC’s meeting had previously been adjourned multiple times before the September 30 vote.
The filing contains an apparent labeling inconsistency: the merger proposal voting section refers to the “Nasdaq Proposal” when describing its approval threshold. Investors should consult the definitive proxy statement and transaction documents for the applicable threshold and full terms.
Important facts for investors to verify
- Post-closing cash, PIPE proceeds, debt and liquidity, including the effect of the 2,515,182 redemptions.
- Final Pubco share count, transaction consideration and dilution from the merger, PIPE and approved equity plans.
- Nasdaq trading details and the effective operation of the approved share-capital changes.
- Full transaction terms and voting thresholds in the proxy statement and merger documents, including the filing’s proposal-labeling inconsistency.