KURI SEC filings, in plain English
Everything ALKURI GLOBAL ACQUISITION CORP. has filed with the SEC that we hold — 40 filings, newest first, 3 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.
The feed
live EDGAR captureNew filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.
What changed: Alkuri Global Acquisition Corp. issued definitive merger materials for a special meeting on the merger agreement dated June 3, 2021 with Babylon Holdings Limited, a company organized under the laws of the Bailiwick of Jersey, and Liberty USA Merger Sub, Inc. Merger Sub merges into Alkuri, which continues as a wholly owned subsidiary of Babylon, and each share of Alkuri Common Stock converts into one Babylon Class A ordinary share. The document is also a prospectus for up to 43,125,000 Class A ordinary shares and 14,558,333 warrants of Babylon. Why it matters: The founder takes fifteen votes per share: after the Reclassification the Babylon Class B Shares carry fifteen votes each against one for Class A, have the same economic terms, and are held by Dr. Ali Parsadoust, ALP Partners Limited and the Parsa Family Foundation. Babylon issues the Founder a further 38,800,000 Class B Stockholder Earnout Shares at Closing, restricted until price milestones are met, while only 1,293,750 of the Sponsor's 7,187,500 converted shares are similarly restricted. The deal implies a $4.2 billion post-closing equity value.
What changed: Alkuri Global Acquisition Corp. filed a preliminary proxy statement/prospectus for a special meeting on the merger agreement dated June 3, 2021 with Babylon Holdings Limited, a Jersey company, and Liberty USA Merger Sub, Inc. Merger Sub merges into Alkuri, which continues as a wholly owned subsidiary of Babylon, and each share of Alkuri Common Stock converts into one Babylon Class A ordinary share. The document covers up to 43,125,000 Class A ordinary shares and 14,558,333 warrants of Babylon. Why it matters: The conversion is one-for-one, so an Alkuri holder's share count does not change — what changes is what a share represents. The filing states the business combination implies a $4.2 billion post-closing equity value against a current Babylon equity value of $3.515 billion, and that each Babylon Class A and Class B share has a target value at the time of the combination of $10.00 based on that $3.515 billion. After the Reclassification Babylon has two classes, so a second class exists that Alkuri holders do not receive.
- What changed vs 2021-05-24trust $345.0M → $345.0M +0%going concern APPEAREDshares 31.0M → 30.3M -2%
trust account, going-concern doubt, redeemable shares +13 moved · 1 with no prior record of ours
- Trust account
- $345.0M$345.0M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 31.0M30.3M
- Combination deadline
- 2023-02-09 · unchanged
SpacBrain reads this as $12,331 was added to the trust between the two filings.
The clause “057,553 294,632 Deferred offering costs — 247,735 Marketable securities held in Trust Account 345,022,618 — Total Assets $ 346,080,171 $ 542,367 LIABILITIES AND STOCKHOLDERS' EQUITY Current”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
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 one year from the date of these financial statements if a Business”…
SpacBrain reads this as 647,633 shares are no longer redeemable.
The clause “A common stock, $0.0001 par value; 4,167,156 issued and outstanding (excluding 30,332,844 shares subject to possible redemption) and 20,000,000 shares authorized of Class B common stock, $0.0001 par value, 8,625,000 issued and”…
The clause “TO CONDENSED FINANCIAL STATEMENTS JUNE 30, 2021 (UNAUDITED) The Company will have until February 9, 2023 to complete a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within”…
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: FY2020 10-K covering December 1, 2020 (inception) to December 31, 2020, a period entirely before the February 9, 2021 IPO. At the year end the company held $293,634 of cash and had a $5,085 net loss of formation and operating expenses. It was renamed from Ark Global Acquisition Corp. to Alkuri Global Acquisition Corp. effective March 8, 2021. Disclosed as subsequent events: 34,500,000 units including a full over-allotment, $345,000,000 placed in trust, $12,075,000 of deferred underwriting, and about $315,000 of cash outside the trust as of March 26, 2021. Why it matters: No trust existed at the balance-sheet date, so nothing per-share can be taken from this report. The figure that does carry information is the working-capital position seven weeks after the IPO: about $315,000 outside the trust against the roughly $1,000,000 set aside for that purpose at closing, so most of the operating budget went in the first seven weeks. The name change also means older references to Ark Global Acquisition Corp. are the same registrant.
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.