Insight Acquisition Corp Extends Business Combination Period

Insight Acquisition Corp. (OTCMKTS: INAQU) recently filed a Fourth Amendment to its Amended and Restated Certificate of Incorporation with the Delaware Secretary of State. The amendment, approved by stockholders at a Special Meeting on December 6, 2024, extends the period by which the company has to complete an initial business combination. Originally set to expire on December 7, 2024, the Business Combination Period has now been lengthened to March 7, 2025.

During the Special Meeting, 75.93% of the outstanding shares of common stock were represented, with the majority approving the Fourth Extension Amendment Proposal. This proposal aimed to extend the Business Combination Period and required at least 65% of outstanding shares to vote in favor, which was achieved with an approval rate of approximately 75.93%.

In connection with the stockholders’ vote, one share was tendered for redemption. The Fourth Amendment, now incorporated as Exhibit 3.1, outlines the modifications made to the Charter. This amendment was deemed necessary to push back the timeline for the Business Combination, allowing the company more time to finalize its strategic moves.

It is crucial to note that the Current Report on Form 8-K serves solely for informational purposes and should not be considered a proxy statement or a solicitation. It does not constitute an offer to sell or buy securities, nor does it solicit any approvals. Any further sale or issuance of securities must comply with the relevant laws and regulations.

The company’s securities are listed on The Nasdaq Stock Market, LLC, comprising Units, Class A Common Stock, and Redeemable Warrants. Additionally, as an emerging growth company, Insight Acquisition Corp. has indicated its election not to use the extended transition period for new financial accounting standards compliance. This move aligns with the Company’s strategic vision and operational goals moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Insight Acquisition’s 8K filing here.

Insight Acquisition Company Profile

Insight Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on business in the FinTech, wealth, asset, investment management, and insurance tech sectors.