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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 9, 2024

10X CAPITAL VENTURE ACQUISITION CORP. III
(Exact name of registrant as specified in its charter)

Cayman Islands

 

001-41216

 

98-1611637

(State or other jurisdiction of
incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

1 World Trade Center, 85th Floor

New York, New York

10007

(Address of principal executive offices)   (Zip Code)

 

(212) 257-0069
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange on
which registered

Units, each consisting of one Class A ordinary share, par value $0.0001, and one-half of one redeemable warrant   VCXB.U   NYSE American LLC
Class A ordinary shares, par value $0.0001 per share   VCXB   NYSE American LLC
Warrants, each whole warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share   VCXB WS   NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

Item 8.01. Other Events.

Extension Approval

 

As previously disclosed, on October 12, 2023, 10X Capital Venture Acquisition Corp. III, a Cayman Islands exempted company (“10X III”) held an extraordinary general meeting of shareholders, at which 10X III’s shareholders approved, by special resolution, the proposal to amend 10X III’s Second Amended and Restated Memorandum and Articles of Association to extend the date by which 10X III must (1) consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination (an “initial business combination”), (2) cease its operations except for the purpose of winding up if it fails to complete such initial business combination, and (3) redeem all of the Class A ordinary shares, par value $0.0001 per share, included as part of the units sold in its initial public offering, from October 14, 2023 to January 14, 2024 (the “Extended Date”) and to allow the board of directors of 10X III (the “Board”), without another shareholder vote, to elect to further extend the date to consummate an initial business combination after the Extended Date for up to six additional months, by one or more months each time, upon two days’ advance notice prior to the applicable deadline, up to July 14, 2024, unless the closing of an initial business combination should have occurred prior thereto.

 

On January 9, 2024, the Board approved the extension of the date by which 10X III is required to complete an initial business combination until March 14, 2024 (the “First Optional Extension”). This Current Report on Form 8-K constitutes notice to shareholders of the Board’s approval of the First Optional Extension.

 

Liquidation of Investment Held in the Trust Account into Cash Held in an Interest-Bearing Demand Deposit Account

 

In order to mitigate the potential risks of being deemed to have been operating as an unregistered investment company for purposes of the Investment Company Act of 1940, as amended (the “Investment Company Act”), 10X III has determined to instruct Continental Stock Transfer & Trust Company, the trustee with respect to 10X III’s trust account (the “Trust Account”), to liquidate the U.S. government treasury obligations and money market funds held in the Trust Account on or about January 10, 2024 and to hold all funds in the Trust Account in cash in an interest-bearing demand deposit account until the earlier of consummation of 10X III’s initial business combination or liquidation. Interest on such demand deposit account is variable and therefore such rate of interest may decrease or increase significantly. As a result, following such liquidation, 10X III may receive less interest on the funds held in the Trust Account, which would reduce the dollar amount public shareholders would receive upon any redemption or liquidation of 10X III.

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 10, 2024    
  10X CAPITAL VENTURE ACQUISITION CORP. III
     
     
  By: /s/ David Weisburd
  Name: David Weisburd
  Title: Chief Executive Officer

 

 

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Cover
Jan. 09, 2024
Document Type 8-K
Amendment Flag false
Document Period End Date Jan. 09, 2024
Entity File Number 001-41216
Entity Registrant Name 10X CAPITAL VENTURE ACQUISITION CORP. III
Entity Central Index Key 0001848948
Entity Tax Identification Number 98-1611637
Entity Incorporation, State or Country Code E9
Entity Address, Address Line One 1 World Trade Center
Entity Address, Address Line Two 85th Floor
Entity Address, City or Town New York
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10007
City Area Code (212)
Local Phone Number 257-0069
Written Communications true
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company true
Elected Not To Use the Extended Transition Period false
Units, each consisting of one Class A ordinary share, par value $0.0001, and one-half of one redeemable warrant  
Title of 12(b) Security Units, each consisting of one Class A ordinary share, par value $0.0001, and one-half of one redeemable warrant
Trading Symbol VCXB.U
Security Exchange Name NYSEAMER
Class A ordinary shares, par value $0.0001 per share  
Title of 12(b) Security Class A ordinary shares, par value $0.0001 per share
Trading Symbol VCXB
Security Exchange Name NYSEAMER
Warrants, each whole warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share  
Title of 12(b) Security Warrants, each whole warrant exercisable for one Class A ordinary share, each at an exercise price of $11.50 per share
Trading Symbol VCXB WS
Security Exchange Name NYSEAMER

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