PAQC SEC filings, in plain English
Everything Provident 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: Provident Acquisition Corp.'s proxy statement and prospectus for 28,415,000 Class A ordinary shares, 18,100,000 redeemable warrants and 18,100,000 Class A shares underlying those warrants of Perfect Corp. covers the Agreement and Plan of Merger as amended by a First Amendment dated September 16, 2022. Closing conditions include the accuracy of representations and material compliance with covenants in the Forward Purchase Agreements. Provident Class B ordinary shares convert, and each surviving company share carries a par value of $0.10. Why it matters: Conditioning the closing on the Forward Purchase Agreements means PAQC holders depend on third-party investors performing, not just on the shareholder vote — if the forward purchasers walk, the deal can fail. The 18,100,000 warrants represent a large overhang relative to the 28,415,000 shares registered. The Hong Kong ties disclosure signals the Holding Foreign Companies Accountable Act risk that has cost other China-linked de-SPACs their listings.
pipenothing moved · 1 with no prior record of ours
- PIPE
- no earlier filing$2.5M
The clause …“for its services prescribed under the M&A advisor engagement letter is up to $2.5 million (subject to certain reductions for proceeds of PIPE Investment agreed to be excluded for purposes of fees calculation). In addition, 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 2022-05-05trust $230.0M → $230.3M +0%going concern APPEARED
trust account, going-concern doubt, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $230.0M$230.3M
- Going-concern doubt
- not statedstated
- Combination deadline
- not previously extracted2023-01-11
- Redeemable shares
- 23.0M · unchanged
SpacBrain reads this as $313,921 was added to the trust between the two filings.
The clause …“assets 688,379 823,520 Prepaid expense — 7,671 Investments held in trust account 230,330,846 230,014,437 Total Assets $ 231,019,225 $ 230,845,628 Liabilities, Ordinary Shares Subject to Possible”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“business combination not occur, 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”…
The clause …“However, there can be no assurance that we will be able to consummate any business combination by January 11, 2023. Management has determined that the mandatory liquidation, should a business combination not occur, and potential”…
The clause …“and Contingencies (Note 6) Class A ordinary shares, $ 0.0001 par value; 23,000,000 shares subject to possible redemption at $ 10.00 per share at June 30, 2022 and December 31, 2021 230,330,846 230,014,437 ”…
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 2021-11-03trust $230.0M → $230.0M +0%shares 2.33M → 23.0M +887%
trust account, redeemable shares2 moved
- Trust account
- $230.0M$230.0M
- Redeemable shares
- 2.33M23.0M
SpacBrain reads this as $7,109 was added to the trust between the two filings.
The clause …“assets 502,466 823,520 Prepaid expense — 7,671 Investments held in trust account 230,016,925 230,014,437 Total Assets $ 230,519,391 $ 230,845,628 Liabilities, Ordinary Shares Subject to Possible”…
SpacBrain reads this as 20,669,312 more shares carry a redemption right.
The clause …“and Contingencies (Note 6) Class A ordinary shares, $ 0.0001 par value; 23,000,000 shares subject to possible redemption at $ 10.00 per share at March 31, 2022 and December 31, 2021 230,016,925 230,014,437 ”…
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: Provident Acquisition Corp.'s preliminary proxy statement/prospectus, subject to completion dated March 25, 2022, for the Agreement and Plan of Merger dated March 3, 2022 with Perfect Corp. and two Cayman Islands merger subs. Provident merges with Merger Sub 1 and then into Merger Sub 2, so Provident's shareholders become shareholders of Perfect. The prospectus covers 28,415,000 Class A ordinary shares, 18,100,000 redeemable warrants and the 18,100,000 Class A ordinary shares underlying those warrants, in each case of Perfect Corp. Why it matters: The securities being registered are Perfect Corp.'s, not Provident's — the SPAC does not survive as the listed entity, it is merged out through a double-merger and its holders end up in the Cayman Islands target. Alongside that, PIPE Investors have committed to buy Provident Class A Ordinary Shares at $10.00 per share for an aggregate $50,000,000, funding one business day before the First Merger Effective Time, and the filing states those obligations are themselves subject to closing conditions that can be waived.
- What changed vs 2021-04-15trust $230.0M → $230.0M +0%mandate language changed
trust account, mandate language2 moved
- Trust account
- $230.0M$230.0M
SpacBrain reads this as $14,437 was added to the trust between the two filings.
The clause …“For the year ended December 31, 2021, we had marketable securities held in the Trust Account of $230,014,437. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing”…
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.