ACKI SEC filings, in plain English
Everything ACKRELL SPAC Partners I Co. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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- What changed vs 2022-05-16trust $142.2M → $140.8M -1%deadline 2022-06-23 → 2022-09-23
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $142.2M$140.8M
- Combination deadline
- 2022-06-232022-09-23
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 13.8Mnot matched in this filing
SpacBrain reads this as $1,416,932 left the trust between the two filings.
The clause “Assets: Cash held in Trust Account $ 1,895 1,895 - $ - U.S. Treasury Securities held in Trust Account 140,820,683 - 140,820,683 - 140,822,578 1,895 140,820,683 - Liabilities: Warrant Liability – Private Warrants $ 284,770 $ - $ - $”…
SpacBrain reads this as 92 days later than the previous record.
The clause …“there may be no Special Meeting of Stockholders to vote upon our initial business combination or a Further Extension before September 23, 2022. Even if the proposed Blackstone Business Combination or a Further Extension is approved”…
The clause …“automatic winding up, liquidation and dissolution. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Note 2 — Significant Accounting Policies Basis of Presentation The accompanying”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Ackrell SPAC Partners I Co. set a special meeting for Tuesday, June 21, 2022 at 10:00 a.m. Eastern to extend beyond its June 23, 2022 termination date so it can complete the business combination under an agreement dated December 22, 2021 with North Atlantic Imports, LLC and Dahle. On the record date the redemption price was about $10.30, based on about $142.1 million in the trust net of taxes payable. Why it matters: The conditional structure creates a trap worth understanding: holders who submit shares for redemption get nothing back as a redemption if the extension is not implemented, because the company simply cancels the process and proceeds to a deal or to liquidation on its own timetable. The trust floor of about $10.30 per share is well above the $10.00 deposit price and fully funded at $142.1 million, so the cash value is real. Two days between the meeting and the deadline leaves no margin for error on the transaction.
trust account, combination deadlinenothing moved · 2 with no prior record of ours
- Trust account
- not previously extracted$142.1M
- Combination deadline
- not previously extracted2022-09-23
The clause …“in the Trust Account may be only a small fraction of the approximately $142.1 million held in the Trust Account as of May 16, 2022. 20 Table of Contents Certain Material U.S. Federal Income Tax Consequences The following”…
The clause …“which Ackrell has to consummate a business combination from June 23, 2022 to September 23, 2022, or such earlier date as the Board of Directors may determine. FOR ☐ AGAINST ☐ ABSTAIN ☐ (2) The Adjournment Proposal — To adjourn the”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-11-15trust $139.4M → $142.2M +2%deadline 2021-12-23 → 2022-06-23
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $139.4M$142.2M
- Combination deadline
- 2021-12-232022-06-23
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 13.8M · unchanged
SpacBrain reads this as $2,810,895 was added to the trust between the two filings.
The clause …“assets 37,390 72,172 Total Current Assets 62,602 158,964 Cash and securities held in Trust Account 142,237,615 140,822,578 Total assets $ 142,300,217 $ 140,981,542 Liabilities and Stockholders’ Deficit Accounts payable and accrued”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“acceptable terms. Furthermore, if we are not able to consummate a Business Combination by June 23, 2022, it will trigger our automatic winding up, liquidation and dissolution. These conditions raise substantial doubt about”…
The clause …“automatic winding up, liquidation and dissolution. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Note 2 — Significant Accounting Policies Basis of Presentation The accompanying”…
The clause “$ 0.0001 par value; 100,000,000 shares authorized; 4,369,000 shares (excluding 13,800,000 shares subject to possible redemption) issued and outstanding at March 31, 2022 and December 31, 2021 437 437 Additional paid-in capital - -”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-03-31trust $139.4M → $140.8M +1%deadline 2021-12-23 → 2022-06-23going concern APPEAREDmandate language changed
trust account, combination deadline, going-concern doubt +24 moved · 1 with no prior record of ours
- Trust account
- $139.4M$140.8M
- Combination deadline
- 2021-12-232022-06-23
- Going-concern doubt
- not statedstated
- Mandate language
- we intend to focus our search for businesses in the branded …we intend to focus our search for businesses in the branded …
- Redeemable shares
- 13.4Mnot matched in this filing
SpacBrain reads this as $1,439,331 was added to the trust between the two filings.
The clause …“other offering costs. As of December 31, 2021, we had marketable securities held in the trust account of $140,822,578 consisting of both cash and U.S. treasury bills with a maturity of 185 days or less. We had $86,792 of cash held”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“acceptable terms. Furthermore, if the Company is not able to consummate a business combination by June 23, 2022, it will trigger the Company’s automatic winding up, liquidation and dissolution. These conditions raise substantial”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern” given that the Company’s business plan is dependent on the completion of a business”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.