Tavia Acquisition Corp. 8-K

What Happened

• Tavia Acquisition Corp. (TAVI) filed an 8‑K reporting that shareholders on June 2, 2026 approved an amendment extending the deadline to complete an initial business combination from June 5, 2026 to March 5, 2027. The special resolution passed with 10,670,952 votes for, 3,334,839 against and 1,000 abstentions; 14,006,791 shares (≈87.98% of outstanding) were present or represented.
• Following the approval, public shareholders elected to redeem 7,167,225 ordinary shares for approximately $10.66 per share (aggregate ≈ $76.4 million). On June 5, 2026 the company filed a promissory note to its sponsor, Tavia Sponsor Pte. Ltd., for up to $540,000 to support previously announced monthly trust contributions.

Key Details

• Extension: Previous termination date June 5, 2026 extended to March 5, 2027 (up to nine months).
• Redemption: 7,167,225 shares redeemed; aggregate redemption ≈ $76.4 million; post‑redemption Trust Account ≈ $46.2 million; 8,753,608 ordinary shares remain outstanding.
• Sponsor funding: Unsecured, non‑interest bearing promissory note up to $540,000 (drawn to facilitate contributions of up to $60,000/month to the Trust Account); payable on the earlier of consummation of a business combination or the company’s winding up. If no business combination occurs, repayment of the Note is limited to amounts remaining outside the Trust Account, if any.
• Vote details: Record date May 4, 2026; quorum present; Articles amended effective June 2, 2026.

Why It Matters

• The extension gives Tavia up to nine additional months to find and close a merger or acquisition, delaying potential liquidation if a deal is found.
• The $76.4M in redemptions reduces the cash available in the Trust Account (to about $46.2M), which may limit the size or financing flexibility of any prospective business combination and affects the remaining public float (8.75M shares).
• The sponsor’s promissory note provides modest short‑term funding for required trust contributions but is unsecured and repayable only under limited conditions if no deal is completed—important for assessing sponsor support and downside risk.