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In a recent SEC filing, BurTech Acquisition Corp. (NASDAQ:BRKH), a company specializing in semiconductors and related devices, announced a series of shareholder-approved amendments and corporate actions. The most significant of these is the extension of the deadline to complete a business combination, which has been moved from December 15, 2024, to May 15, 2025. This extension is structured on a month-to-month basis, allowing the company additional time to finalize a merger or acquisition.
At the special annual meeting held on Monday, shareholders approved an amendment to BurTech's investment management trust agreement. This amendment permits the company to deposit $0.05 per unredeemed share of Class A common stock, or $205,227.15 per month, into the trust account for each month they extend the deadline to complete a business combination.
Additionally, the shareholders ratified the appointment of Marcum LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. The company also disclosed that in connection with the stockholder vote, 241,120 shares were tendered for redemption. Consequently, approximately $2.77 million will be withdrawn from the trust account to pay the shareholders who opted for redemption, which equates to roughly $10.51 per share.
Following these redemptions, BurTech will have 4,104,543 shares of Class A Common Stock and 5 shares of Class B Common Stock remaining issued and outstanding. The trust account will retain approximately $47.23 million.
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