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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): December 27, 2023 (December 21, 2023)

 

Innovative International Acquisition Corp.

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-40964   N/A
(State or other jurisdiction
of incorporation)		   (Commission
File Number)		   (IRS Employer
Identification No.)

 

24681 La Plaza Ste 300

Dana Point, CA 92629

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (805) 907-0597

 

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 per share, and one-half of one Redeemable Warrant   IOACU   The Nasdaq Stock Market LLC
         
Class A ordinary shares, par value $0.0001 per share, included as part of the Units   IOAC   The Nasdaq Stock Market LLC
         
Redeemable Warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the Units   IOACW   The Nasdaq Stock Market 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 x

 

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. ¨

 

 

 

 

 

 

INTRODUCTORY NOTE

 

As previously disclosed, Innovative International Acquisition Corp. (“IOAC”) entered into the Agreement and Plan of Merger and Reorganization (as may be amended or supplemented, the “Merger Agreement”), dated as of October 13, 2022, by and among IOAC, Zoomcar, Inc. (“Zoomcar”), Innovative International Merger Sub Inc. (“Merger Sub”) and Greg Moran, in the capacity as the Seller Representative for the purposes and as described under the Merger Agreement (the “Seller Representative”). Pursuant to the Merger Agreement, IOAC will continue out of the Cayman Islands and re-domesticate into a Delaware corporation (the “Domestication”). We refer to transactions contemplated by the Merger Agreement, collectively, including the Domestication and the issuance of IOAC securities in connection therewith, as the “Business Combination”. In connection with the Domestication and the Business Combination, IOAC will be renamed “Zoomcar Holdings, Inc.” (referred to herein as “New Zoomcar”). On December 19, 2023, the shareholders of IOAC approved the Business Combination and related matters at an extraordinary general meeting of shareholders (the “Business Combination Meeting”).

  

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

 

NTA Amendment

 

As previously disclosed, at the Business Combination Meeting, the shareholders of IOAC approved by special resolution under Cayman Islands law, amendments (collectively, the “NTA Amendment”) to IOAC’s Amended and Restated Memorandum and Articles of Association (the “Existing Organizational Documents”) to remove the requirements contained in the Existing Organizational Documents limiting IOAC’s ability to redeem ordinary shares and consummate an initial business combination if such redemptions would cause IOAC to have less than $5,000,001 in net tangible assets. 

 

Under Cayman Islands law, the NTA Amendment took effect upon approval by the shareholders. The Company has filed the NTA Amendment with the Cayman Islands General Registry on December 21, 2023.

 

The foregoing description is qualified in its entirety by reference to the NTA Amendment, a copy of which is attached as Exhibit 3.1 hereto and is incorporated by reference herein.

 

 

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are being filed herewith:

 

Exhibit No.   Description
3.1   Amendment to Amended and Restated Memorandum and Articles of Association of the Company
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

 

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: December 27, 2023 INNOVATIVE INTERNATIONAL ACQUISITION CORP.
   
  By: /s/ Mohan Ananda
  Name: Mohan Ananda
  Title: Chief Executive Officer

 

 

 

 

Exhibit 3.1

 

GRAPHIC

Registrar of Companies Government Administration Building 133 Elgin Avenue George Town Grand Cayman Innovative International Acquisition Corp. (ROC #373243) (the "Company") TAKE NOTICE that at an extraordinary general meeting of the Company dated 19 December 2023, the following special resolution was passed: 4 Proposal No. 1 – The NTA Proposal “RESOLVED, as a special resolution, that subject to the approval of Proposal No. 3 (the Business Combination Proposal) and with effect prior to the consummation of the Domestication and the proposed Business Combination, the Memorandum and Articles of Association be amended as follows: (a) Article 49.2(b) of the Existing Organizational Documents shall be deleted in its entirety and replaced with the following language: “provide Members with the opportunity to have their Shares repurchased by means of a tender offer for a per-Share repurchase price payable in cash, equal to the aggregate amount then on deposit in the Trust Account, calculated as of two business days prior to the consummation of such Business Combination, including interest earned on the Trust Account (net of taxes paid or payable, if any), divided by the number of then issued Public Shares.” (b) Article 49.4 of the Existing Organizational Documents shall be deleted in its entirety and replaced with the following language: “At a general meeting called for the purposes of approving a Business Combination pursuant to this Article, in the event that such Business Combination is approved by Ordinary Resolution, the Company shall be authorized to consummate such Business Combination, provided that the Company shall not consummate such Business Combination unless the Company has achieved any net tangible asset or cash requirement that may be contained in the agreement relating to such Business Combination.” (c) Article 49.5 of the Existing Organizational Documents shall be deleted in its entirety and replaced with the following language: “Any Member holding Public Shares who is not the Sponsor, a Founder, Officer or Director may, at least two business days’ prior to any vote on a Business Combination, elect to have their Public Shares redeemed for cash, in accordance with any applicable requirements provided for in the related proxy materials (the “IPO Redemption”), provided that no such Member acting together with any Affiliate of his or any other person with whom he is acting in concert or as a partnership, limited partnership, syndicate, or other group for the purposes of acquiring, holding, or disposing of Shares may exercise this redemption right with respect to more than 15 per cent of the Public Shares in the aggregate without the prior consent of the Company. In connection with any vote held to approve a proposed Business Combination, holders of Public Shares seeking to exercise their redemption rights will be required to either tender their certificates (if any) to the Company’s transfer agent or to deliver their shares to the transfer agent electronically using The Depository Trust Company’s DWAC (Deposit/Withdrawal At Filed: 21-Dec-2023 16:52 EST www.verify.gov.ky File#: 373243 Auth Code: J40645734921

GRAPHIC

Custodian) System, at the holder’s option, in each case up to two business days prior to the vote on the proposal to approve the Business Combination. If so demanded, the Company shall pay any such redeeming Member, regardless of whether he is voting for or against such proposed Business Combination, a per-Share redemption price payable in cash, equal to the aggregate amount then on deposit in the Trust Account calculated as of two business days prior to the consummation of the Business Combination, including interest earned on the Trust Account (such interest shall be net of taxes payable) and not previously released to the Company to pay its taxes, divided by the number of then issued Public Shares (such redemption price being referred to herein as the “Redemption Price”).” (d) The final sentence of Article 49.8 of the Existing Organizational Documents shall be deleted in its entirety.” ___________________________________ Ahmarée Piercy Corporate Administrator for and on behalf of Maples Corporate Services Limited Dated this 21 day of December 2023 Filed: 21-Dec-2023 16:52 EST www.verify.gov.ky File#: 373243 Auth Code: J40645734921

v3.23.4
Cover
Dec. 21, 2023
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Dec. 21, 2023
Current Fiscal Year End Date --03-31
Entity File Number 001-40964
Entity Registrant Name Innovative International Acquisition Corp.
Entity Central Index Key 0001854275
Entity Tax Identification Number 00-0000000
Entity Incorporation, State or Country Code E9
Entity Address, Address Line One 24681 La Plaza Ste 300
Entity Address, City or Town Dana Point
Entity Address, State or Province CA
Entity Address, Postal Zip Code 92629
City Area Code 805
Local Phone Number 907-0597
Written Communications false
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 per share, and one-half of one Redeemable Warrant  
Document Information [Line Items]  
Title of 12(b) Security Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant
Trading Symbol IOACU
Security Exchange Name NASDAQ
Class A ordinary shares, par value $0.0001 per share, included as part of the Units  
Document Information [Line Items]  
Title of 12(b) Security Class A ordinary shares, par value $0.0001 per share, included as part of the Units
Trading Symbol IOAC
Security Exchange Name NASDAQ
Redeemable Warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the Units  
Document Information [Line Items]  
Title of 12(b) Security Redeemable Warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the Units
Trading Symbol IOACW
Security Exchange Name NASDAQ
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