Yotta Acquisition Corp

This is the third extension of a SPAC now seeking to run more than three years past its IPO without a completed deal, and the funding terms have deteriorated each time: from $120,000 a month in fixed deposits, to a period with no deposits at all, and now to $0.04 per remaining public share. That per-share formula means the trust accretes only about 0.4% of a $10 share per month, barely above nothing, so the redemption floor grows far more slowly than the delay. Serial extensions with shrinking sponsor contributions usually end in liquidation.

The company concedes in its own proxy that this proposal harms non-redeeming holders — it converts a $120,000 monthly obligation into eleven free months for the sponsor, and the trust stops accreting. That is an explicit transfer of value from public shareholders to the sponsor, disclosed rather than hidden. Against $10.68 per share in trust today, redeeming at this meeting locks in value that will not grow if the amendment passes.

This records a DIFFERENT target for Yotta than the DRIVEiT Financial Auto Group transaction its later registration statements describe: here the counterparty is NaturalShrimp Incorporated under an October 24, 2022 agreement. Anyone tracking Yotta's deal history should not treat the two as the same transaction. The document is also an information statement, so one constituency is being informed rather than asked to vote. No vote date or registered share count appears in the extracted portion.

The amendment replaces a $1,150,000 quarterly deposit, ten cents a share, with $120,000 a month — a sharp reduction in what accrues to the trust while the runway triples to twelve months. For YOTA holders the $10.31 redemption price is the value available now, and it will grow far more slowly under the new terms. Each extension vote is a redemption window, and this one comes before the cheaper regime takes effect.

This is the baseline of the registration statement whose target, as its first amendment records, is NaturalShrimp Incorporated under an October 24, 2022 merger agreement — a different transaction from the DRIVEiT Financial Auto Group deal Yotta's later registration statements describe. The document is also an information statement, so one constituency is being informed rather than asked to vote. No vote date, meeting address or registered share count appears in the extracted portion.

What changed: Yotta Acquisition Corp. called a special meeting for 10:00 a.m. Eastern Time on October 17, 2025 to extend the date to consummate a business combination from October 22, 2025 to April 22, 2027, amending a charter already amended on April 19, 2023 and August 22, 2024, and to make the matching Third Trust Amendment without depositing any additional funds into the trust account. The estimated per-share redemption price was approximately $12.27, assuming a maximum monthly extension contribution of $7,500 including interest and net of taxes. Why it matters: The sponsor has stopped funding the trust and is asking for eighteen more months at no cost to itself - so the $12.27 redemption value will no longer be topped up, and the proxy states directly that funds available for redemption will be less than they otherwise would have been. Holders staying in carry deal risk to April 2027 with a decaying claim. The $11.52 OTC price sits $0.75 below trust, so redeeming is worth more than selling.

What changed: Amendment No. 4 to Yotta Acquisition Corporation's Form S-4, with a preliminary proxy statement/prospectus dated May 14, 2025 and no explanatory note naming the change. The special meeting is virtual-only — stockholders will not be able to attend in person — with the date, time and meeting URL left blank. Holders of common stock are asked to approve the Merger Agreement dated August 20, 2024, as amended on October 30, 2024, among Yotta, Yotta Merger Sub, Inc. and DRIVEiT Financial Auto Group, Inc., both Maryland corporations, with Merger Sub merging into DRIVEiT. Why it matters: The merger agreement dates from August 2024 with a single amendment in October 2024, and the registration statement is on its fourth amendment by May 2025 — the transaction has been in registration for roughly nine months at this point. The merger is governed by Maryland law on the target side while Yotta remains a Delaware company. No vote date, no meeting URL and no registered share count appear in the extracted portion, so this version fixes no deadline and no dilution ceiling.