Libity Approves Name Change, Extends Business Combination Deadline to May 2028

What Happened
Libity (formerly Investcorp AI Acquisition Corp.) filed an 8-K on May 20, 2026 reporting that at a May 14, 2026 extraordinary general meeting shareholders approved a corporate name change to “Libity” and extended the deadline to complete a business combination from May 12, 2027 to May 12, 2028. The company amended and restated its Memorandum and Articles of Association (the “Second A&R M&A”) to reflect these changes.

Key Details

• Shareholder vote: 6,468,750 votes in favor, representing 99.6% of the issued and outstanding ordinary shares; no votes against.
• Shares outstanding (as of April 28, 2026): 6,494,770 ordinary shares (6,494,769 Class A; 1 Class B).
• Extension: Article 36.2 of the governing documents was amended to set the new business-combination deadline at May 12, 2028.
• Redemptions: Holders of 11,896 Class A ordinary shares elected to redeem their public shares as of the redemption deadline (May 12, 2026, 5:00 p.m. ET).

Why It Matters
The approved extension gives Libity an additional year to identify and complete a merger, acquisition, or similar business combination without triggering liquidation provisions tied to the original deadline. The near-unanimous shareholder approval indicates broad support for the longer timeline and the name change; reported redemptions were small in number (11,896 shares) relative to total outstanding shares. The Second A&R M&A reflecting these actions is filed as an exhibit to the 8-K.