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AlphaVest Acquisition Corp. (NASDAQ:ATMVU, NASDAQ:ATMV, NASDAQ:ATMVR), currently trading at $15.51 with a market capitalization of $78.29 million, announced Monday that its shareholders approved amendments to extend the deadline for completing a business combination. The decision was made at an extraordinary general meeting held on September 19, 2025. The stock has shown remarkable momentum, gaining over 67% in the past week alone, according to InvestingPro data.
Shareholders voted in favor of proposals to amend the company’s articles of association and its investment management trust agreement. The approved changes allow AlphaVest Acquisition to extend the deadline for a business combination up to four times, with each extension lasting one month, moving the final deadline from September 22, 2025, to as late as January 22, 2026. Each extension will require a $55,000 deposit into the company’s trust account.
The proposals received 2,876,505 votes in favor and 6,441 votes against, with no abstentions reported.
In connection with the meeting, 1,937 ordinary shares were redeemed by shareholders for a pro rata portion of the funds held in the trust account. Including redemptions from a meeting held on September 5, 2025, a total of 1,513,708 ordinary shares have been redeemed. Following these redemptions, the company will have 2,341,148 ordinary shares outstanding. InvestingPro analysis indicates the stock is trading at a high P/E ratio of 62.9x, with additional metrics and 12 exclusive ProTips available to subscribers. Approximately $18.2 million, or about $12.02 per share, will be removed from the trust account to pay redeeming shareholders, subject to any reversal requests received and approved before the closing of a business combination. With a current ratio of 0.02, InvestingPro data suggests the company faces potential liquidity challenges, though it has demonstrated strong market performance with a 94.5% return over the past six months.
The company’s securities, including units, ordinary shares, and rights, continue to be listed on The Nasdaq Stock Market LLC under the symbols ATMVU, ATMV, and ATMVR, respectively.
This information is based on a press release statement and the company’s recent filing with the Securities and Exchange Commission.
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