PGRW SEC filings, in plain English
Everything Progress 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: Progress Acquisition Corp. called a special meeting for April 17, 2023 at 10:30 a.m. Eastern Time, virtual, to extend the Termination Date from May 8, 2023 to November 8, 2023, and to allow Founder Shares to convert at any time before a business combination, which the proxy says gives flexibility to retain stockholders and meet Nasdaq continued listing requirements after redemptions. Sponsor Progress Capital I LLC owns 4,312,500 Class B Founder Shares and the underwriters' representative owns 150,000 Class A Representative Shares. Shares must be tendered by April 13, 2023 to redeem. Why it matters: Allowing founder shares to convert early is a listing-compliance device: after heavy redemption the public float can fall below Nasdaq's round-lot and holder requirements, and converting the sponsor's 4,312,500 shares papers over that. It also puts low-basis stock into the Class A count alongside public shares. This is a second extension, PGRW was still only in discussions with targets, and it ultimately liquidated — redeeming by April 13, 2023 was the reliable exit.
What changed vs 2022-10-12deadline 2023-05-08 → 2023-11-08combination deadline, trust account1 moved · 1 with no prior record of ours
- Combination deadline
- 2023-05-082023-11-08
- Trust account
- $4.3M · unchanged
SpacBrain reads this as 184 days later than the previous record.
The clause …“full as follows: F. In the event that the Corporation does not consummate a Business Combination by November 8, 2023 or such earlier date as determined by the Board of Directors of the Corporation (or, if the Office of the Delaware”…
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 4,312,500 Founder Shares, which were issued to the Sponsor prior to our IPO, and 4,650,000 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 2022-08-22trust $172.7M → $173.2M +0%deadline 2022-11-11 → 2023-05-08
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $172.7M$173.2M
- Combination deadline
- 2022-11-112023-05-08
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $142K · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $537,359 was added to the trust between the two filings.
The clause …“128,864 361,312 Prepaid expenses, non-current — 27,397 Money market funds held in Trust Account 173,237,830 172,512,282 Total Assets $ 173,366,694 $ 172,900,991 Liabilities, Class A Common Stock Subject to Possible Redemption, and”…
SpacBrain reads this as 178 days later than the previous record.
The clause …“our Sponsor, officers, directors, or third parties, and the consummation of a Business Combination before May 8, 2023. None of the Sponsor, officers or directors are under any obligation to advance funds to, or to invest in, us. There”…
The clause …“acceptable terms, if at all. 7 In connection with the Company’s assessment of going concern considerations in accordance with FASB’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
The clause …“the offering proceeds not being placed in the Trust Account. The Company had borrowed $ 141,700 under the promissory note, and the note was paid in full on February 12, 2021. 15 Convertible Promissory Notes On April 26, 2022, the”…
The clause “100,000,000 shares authorized; 150,000 shares issued and outstanding (excluding 17,250,000 shares subject to possible redemption) as of September 30, 2022 and December 31, 2021 15 15 Class B common stock, $ 0.0001 par value; 10,000,000”…
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: Progress Acquisition Corp. called a special meeting in lieu of its 2022 annual meeting for October 27, 2022 at 10:00 a.m. Eastern Time, virtual. The Sponsor or its designees have agreed to contribute Charter Extension Loans of $50,000 per calendar month, from November 8, 2022 and on the 8th of each subsequent month, up to an aggregate of $300,000, each deposited within five business days of the month's start. Sponsor Progress Capital I LLC owns 4,312,500 Founder Shares and the underwriters' representative owns 150,000 Representative Shares. Why it matters: A flat $50,000 a month means the per-share benefit depends entirely on how many holders redeem — the fewer who leave, the less each receives. Over six months the aggregate is capped at $300,000. PGRW ultimately liquidated, so the extension bought searching time rather than a deal, and tendering by October 25, 2022 was how holders took the trust value on their own terms.
- What changed vs 2022-05-23trust $172.5M → $172.7M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $172.5M$172.7M
- Combination deadline
- 2022-11-11 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $142K · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $183,934 was added to the trust between the two filings.
The clause …“190,742 361,312 Prepaid expenses, non-current — 27,397 Money market funds held in Trust Account 172,700,471 172,512,282 Total Assets $ 172,891,213 $ 172,900,991 Liabilities, Class A Common Stock Subject to Possible Redemption, and”…
The clause …“our Sponsor, officers, directors, or third parties, and the consummation of a Business Combination before November 11, 2022. None of the Sponsor, officers or directors are under any obligation to advance funds to, or to invest in, us.”…
The clause …“acceptable terms, if at all. In connection with the Company’s assessment of going concern considerations in accordance with FASB’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
The clause …“the offering proceeds not being placed in the Trust Account. The Company had borrowed $ 141,700 under the promissory note, and the note was paid in full on February 12, 2021. Convertible Promissory Notes On April 26, 2022, the Company”…
The clause “100,000,000 shares authorized; 150,000 shares issued and outstanding (excluding 17,250,000 shares subject to possible redemption) as of June 30, 2022 and December 31, 2021 15 15 Class B common stock, $ 0.0001 par value; 10,000,000 shares”…
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 $172.5M → $172.5M +0%
trust account, redeemable shares, combination deadline +21 moved · 4 with no prior record of ours
- Trust account
- $172.5M$172.5M
- Redeemable shares
- not previously extracted17.3M
- Combination deadline
- 2022-11-11 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $142K · unchanged
SpacBrain reads this as $8,542 was added to the trust between the two filings.
The clause …“277,974 361,312 Prepaid expenses, non-current — 27,397 Marketable securities held in Trust Account 172,516,537 172,512,282 Total Assets $ 172,794,511 $ 172,900,991 Liabilities, Class A Common Stock Subject to Possible Redemption, and”…
The clause “100,000,000 shares authorized; 150,000 shares issued and outstanding (excluding 17,250,000 shares subject to possible redemption) as of March 31, 2022 and December 31, 2021 15 15 Class B common stock, $ 0.0001 par value; 10,000,000 shares”…
The clause …“our Sponsor, officers, directors, or third parties, and the consummation of a Business Combination before November 11, 2022. None of the Sponsor, officers or directors are under any obligation to advance funds to, or to invest in, us.”…
The clause …“acceptable terms, if at all. In connection with the Company’s assessment of going concern considerations in accordance with FASB’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
The clause …“the offering proceeds not being placed in the Trust Account. The Company had borrowed $ 141,700 under the promissory note, and the note was paid in full on February 12, 2021. Related Party Loans In order to meet the Company’s working”…
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.