BWAC SEC filings, in plain English
Everything Better World Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 2 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 2022-11-14deadline 2023-02-17 → 2023-08-17shares 4.21M → 3.00M -29%
combination deadline, redeemable shares, sponsor loans outstanding +22 moved · 3 with no prior record of ours
- Combination deadline
- 2023-02-172023-08-17
- Redeemable shares
- 4.21M3.00M
- Sponsor loans outstanding
- not previously extracted$4.3M
- Trust account
- $127.4M · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 181 days later than the previous record.
The clause …“upon the earlier to occur of (i) the date on which we consummate our initial business combination and (ii) the liquidation of the Company on or before August 17, 2023 or such later liquidation date as may be approved by the Company’s”…
SpacBrain reads this as 1,213,453 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 3,487,070 shares issued and outstanding (excluding 3,000,000 and 4,213,453 shares subject to possible redemption) at March 31, 2023 and December 31, 2022, respectively 348 348 Accumulated deficit ( 5,072,682 )”…
The clause …“As of March 31, 2023 and December 31, 2022, there was $ 4,323,720 and $ 4,323,720 outstanding under the Convertible Promissory Note, respectively. The Convertible Promissory Note was valued using the fair value method. The fair”…
The clause …“into the Trust Account on November 20, 2020, bringing the aggregate proceeds held in the Trust Account to $ 127,447,860 . On November 9, 2021, in connection with the first extension of the date by which the Company has to consummate a”…
The clause …“and the mandatory liquidation and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
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 2022-03-31trust $128.8M → $127.4M -1%deadline 2022-05-17 → 2023-08-17shares 12.6M → 4.21M -67%
trust account, combination deadline, redeemable shares +23 moved · 2 with no prior record of ours
- Trust account
- $128.8M$127.4M
- Combination deadline
- 2022-05-172023-08-17
- Redeemable shares
- 12.6M4.21M
- Sponsor loans outstanding
- not previously extracted$1.3M
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $1,342,148 left the trust between the two filings.
The clause …“into the Trust Account on November 20, 2020, bringing the aggregate proceeds held in the Trust Account to $ 127,447,860 . On November 9, 2021, in connection with the first extension of the date by which the Company has to consummate a”…
SpacBrain reads this as 457 days later than the previous record.
The clause …“date of the financial statements. Further, if the Company does not complete a business combination by August 17, 2023, or obtain approval for an extension of this deadline, it will be required to cease all operations except for the”…
SpacBrain reads this as 8,405,147 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 3,487,070 shares issued and outstanding (excluding 4,213,453 and 12,618,600 shares subject to possible redemption) at December 31, 2022 and 2021, respectively 348 348 Accumulated deficit ( 3,750,959 ) (”…
The clause …“of warrants. As of December 31, 2022 and 2021, there was $ 4,323,720 and $ 1,261,860 outstanding under the Convertible Promissory Note, respectively. The Convertible Promissory Note was valued using the fair value method. The fair”…
The clause …“would have a right to submit their shares for redemption; 22 ● There is substantial doubt about our ability to continue as a going concern; ● We have identified a material weakness in our internal control over financial reporting”…
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: Better World Acquisition Corp. filed a preliminary proxy statement for a special meeting on the Business Combination Agreement dated December 9, 2022 with Heritage Distilling Holding Company, Inc., a new Pubco named Heritage Distilling Group, Inc., two merger subs, the Sponsor as representative for BWAC's stockholders and Justin Stiefel as Holder Representative. BWA Merger Sub merges into BWAC and HD Merger Sub merges into Heritage, leaving both under Pubco. Each non-redeemed share of BWAC Common Stock becomes one share of Pubco Common Stock plus one contingent value right. Why it matters: The contingent value right is the public holder's compensation and the insiders give theirs up: holders of Founder Shares and Representative Shares waive their right to receive CVRs under a CVR Funding and Waiver Letter, so the CVRs attach only to non-redeeming public shares. Heritage's unsecured convertible noteholders receive Pubco shares separately from the Stockholder Merger Consideration, certain Heritage warrants are contributed to Pubco and exchanged for shares as if exercised, and BWAC's own warrants are assumed on identical terms.
What changed: Better World Acquisition Corp. called a special meeting for February 8, 2023 at 10:00 a.m. Eastern Time to extend the deadline so it can complete the definitive business combination agreement entered December 9, 2022 with Heritage Distilling Holding Company, Inc. The Sponsor owns 3,154,650 Founder Shares and 4,377,121 private placement warrants. Why it matters: A deposit that shrinks per share as more holders stay is an inverted incentive: the fewer who redeem, the less each remaining holder receives per month. That makes the extension economics unknowable at the time of the vote. BWAC's filed trust value is around $10.91 per share, and the company ultimately liquidated, so the February 6, 2023 tender deadline was the point at which holders could take that value with certainty.
What changed vs 2022-07-25deadline 2023-02-17 → 2023-08-17combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2023-02-172023-08-17
- Trust account
- $3.2M · unchanged
SpacBrain reads this as 181 days later than the previous record.
The clause …“Company has to consummate a Business Combination from February 17, 2023 to August 17, 2023 or such earlier date as determined by the board of directors. ☐ ☐ ☐ Proposal 2 — Adjournment Proposal FOR AGAINST ABSTAIN Adjourn the Special”…
The clause …“the Sponsor and our officers or directors will not receive any monies held in the Trust Account as a result of their ownership of 3,154,650 Founder Shares, which were issued to the Sponsor prior to our IPO, and 4,377,121 Private”…
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.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- not previously extracted2023-02-17
SpacBrain reads this as the agreement may be terminated from 2023-02-17.
The clause …“(the majority of which are summarized above) are not satisfied or waived by February 17, 2023 (the “ Outside Date ”), provided, that (a) if Better World seeks and obtains an extension to consummate its business combination beyond”…
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.
outside datenothing moved · 1 with no prior record of ours
- Outside date
- 2023-02-17 · unchanged
The clause …“(the majority of which are summarized above) are not satisfied or waived by February 17, 2023 (the “ Outside Date ”), provided, that (a) if Better World seeks and obtains an extension to consummate its business combination beyond”…
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 2022-08-03shares 7.03M → 4.21M -40%
redeemable shares, trust account, combination deadline +11 moved · 3 with no prior record of ours
- Redeemable shares
- 7.03M4.21M
- Trust account
- $127.4M · unchanged
- Combination deadline
- 2023-02-17 · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as 2,818,237 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 3,487,070 shares issued and outstanding (excluding 4,213,453 and 12,618,600 shares subject to possible redemption) at September 30, 2022 and December 31, 2021, respectively 348 348 Accumulated deficit (”…
The clause …“into the Trust Account on November 20, 2020, bringing the aggregate proceeds held in the Trust Account to $ 127,447,860 . On November 9, 2021, in connection with the first extension of the date by which the Company has to consummate a”…
The clause …“and payable upon the earlier to occur of (i) the date on which the Company’s Business Combination is consummated and (ii) the liquidation of the Company on or before February 17, 2023 or such later liquidation date as may be approved”…
The clause …“and the mandatory liquidation and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
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 2022-05-13trust $130.1M → $127.4M -2%deadline 2022-08-17 → 2023-02-17shares 12.6M → 7.03M -44%
trust account, combination deadline, redeemable shares +13 moved · 1 with no prior record of ours
- Trust account
- $130.1M$127.4M
- Combination deadline
- 2022-08-172023-02-17
- Redeemable shares
- 12.6M7.03M
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $2,673,651 left the trust between the two filings.
The clause …“into the Trust Account on November 20, 2020, bringing the aggregate proceeds held in the Trust Account to $ 127,447,860 . On November 9, 2021, in connection with the first extension of the date by which the Company has to consummate a”…
SpacBrain reads this as 184 days later than the previous record.
The clause …“the Company must consummate a Business Combination from August 17, 2022 to February 17, 2023. On November 16, 2021, the Company had previously issued a promissory note (the “Note”) in the principal amount of $ 1,261,860 to the”…
SpacBrain reads this as 5,586,910 shares are no longer redeemable.
The clause “0,000,000 shares authorized; 3,487,070 shares issued and outstanding (excluding 7,031,690 and 12,618,600 shares subject to possible redemption) at June 30, 2022 and December 31, 2021, respectively 348 348 Accumulated deficit ( 3,850,092 )”…
The clause “14-15, “Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern,” management has determined that the liquidity condition and the mandatory liquidation and subsequent dissolution, should the Company be unable”…
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 2022-04-22deadline 2022-08-17 → 2023-02-17
combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2022-08-172023-02-17
- Trust account
- $3.2M · unchanged
SpacBrain reads this as 184 days later than the previous record.
The clause …“the Company has to consummate a Business Combination from August 17, 2022 to February 17, 2023 or such earlier date as determined by the board of directors. ☐ ☐ ☐ Proposal 2 — Adjournment Proposal FOR AGAINST ABSTAIN Adjourn the”…
The clause …“the Sponsor and our officers or directors will not receive any monies held in the Trust Account as a result of their ownership of 3,154,650 Founder Shares, which were issued to the Sponsor prior to our IPO, and 4,377,121 Private”…
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 2021-11-22trust $127.5M → $130.1M +2%deadline 2022-05-17 → 2022-08-17
trust account, combination deadline, going-concern doubt +12 moved · 2 with no prior record of ours
- Trust account
- $127.5M$130.1M
- Combination deadline
- 2022-05-172022-08-17
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 12.6M · unchanged
SpacBrain reads this as $2,605,675 was added to the trust between the two filings.
The clause “3,388 30,805 Total Current Assets 89,250 309,002 Cash and marketable securities held in Trust Account 130,121,511 128,790,008 TOTAL ASSETS $ 130,210,761 $ 129,099,010 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities - Accounts”…
SpacBrain reads this as 92 days later than the previous record.
The clause …“and payable upon the earlier to occur of (i) the date on which the Company’s Business Combination is consummated and (ii) the liquidation of the Company on or before August 17, 2022 or such later liquidation date as may be approved by”…
The clause …“to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern through the liquidation date of August 17, 2022. In connection with the Company’s”…
The clause “0,000,000 shares authorized; 3,487,070 shares issued and outstanding (excluding 12,618,600 shares subject to possible redemption) at March 31, 2022 and December 31, 2021 348 348 Accumulated deficit ( 4,265,795 ) ( 4,651,330 ) Total”…
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.