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Heavy redemptions leave Centurion (Nasdaq: ALF) with $54M in SPAC trust

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Centurion Acquisition Corp. reported that shareholders approved an extension of its deadline to complete an initial business combination from June 12, 2026 to June 12, 2027. This amendment to the company’s Amended and Restated Memorandum and Articles of Association became effective under Cayman Islands law after the approval and related filing.

At the extraordinary general meeting, 21,799,309 votes were cast in favor of the extension and 8,283,145 against. In connection with the meeting, holders of 23,802,843 Class A ordinary shares elected to redeem their shares for cash from the company’s trust account.

As a result of these redemptions, approximately $259.3 million, or about $10.89 per share, was paid out to redeeming shareholders and approximately $54 million remained in the trust account to support a future business combination.

Positive

  • None.

Negative

  • A large redemption of 23,802,843 Class A shares removed approximately $259.3 million from the trust account, leaving only about $54 million to fund any future business combination.

Insights

Extension approved but heavy redemptions sharply reduce cash pool.

Centurion Acquisition Corp. gained an extra year, to June 12, 2027, to complete a business combination by amending its Articles following shareholder approval at an extraordinary general meeting.

The extension passed with 21,799,309 votes for and 8,283,145 against, but redemptions were substantial. Shareholders redeemed 23,802,843 Class A shares for about $259.3 million, or roughly $10.89 per share, leaving about $54 million in the trust account.

This significantly smaller trust balance may limit the size of potential transactions or increase reliance on additional financing. Future business combination disclosures will clarify how the company plans to structure a deal given the reduced cash available.

Item 3.03 Material Modification to Rights of Security Holders Securities
A change was made that materially affects the rights of existing shareholders (e.g., dividend rights, voting rights).
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 5.07 Submission of Matters to a Vote of Security Holders Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Extension deadline June 12, 2027 New deadline to complete initial business combination
Votes for extension 21,799,309 votes Extraordinary general meeting on June 12, 2026
Votes against extension 8,283,145 votes Extraordinary general meeting on June 12, 2026
Shares redeemed 23,802,843 shares Class A ordinary shares redeemed in connection with meeting
Redemption amount $259.3 million Cash paid from trust account to redeeming shareholders
Redemption price per share $10.89 per share Pro rata amount from trust account
Trust balance remaining $54 million Funds left in trust account after redemptions
Extraordinary General Meeting financial
"On June 12, 2026, Centurion Acquisition Corp. held an extraordinary general meeting of shareholders"
trust account financial
"a pro rata portion of the funds held in the Company’s trust account as of June 16, 2026"
A trust account is a special bank or brokerage account where assets are held and managed by a designated person or firm (the trustee) for the benefit of another person or group (the beneficiary). It matters to investors because it separates assets from personal or corporate funds, can protect assets, control how and when money is used, and may affect tax or legal rights—think of it as a locked drawer opened only under agreed rules.
Extension Amendment financial
"the Extension Amendment, which was approved by the Company’s shareholders"
Amended and Restated Memorandum and Articles of Association regulatory
"a proposal to amend the Company’s Amended and Restated Memorandum and Articles of Association"
A document that replaces and combines a company’s core governing papers into a single, updated set of rules spelling out the company’s purpose, share structure, voting rights and how decisions are made. Think of it as rewriting and consolidating a household’s rulebook so everyone knows who controls what and how major choices are handled. Investors watch these changes because they can alter ownership rights, governance, dividend policy and takeover protections, affecting value and control.
Class A ordinary shares financial
"shareholders holding an aggregate of 23,802,843 Class A ordinary shares, par value $0.0001 per share"
Class A ordinary shares are a type of ownership stake in a company that typically grants voting rights to shareholders, allowing them to have a say in important company decisions. They often come with priority in receiving dividends or profits, making them attractive to investors seeking influence and potential income. These shares help distinguish different levels of ownership and rights within a company's stock structure.
special resolution regulatory
"filed with the Cayman Islands Registrar of Companies a notice of the special resolution amending the Articles"
A special resolution is a formal shareholder vote that requires a higher-than-normal majority—typically around three-quarters—to approve major corporate changes, such as altering the company’s governing rules, selling the business, or winding it up. It matters to investors because it signals decisive, potentially value-altering actions that cannot be passed by a simple majority; think of it as needing extra votes to change the rules of a club, so minority interests are harder to override.
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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): June 12, 2026

 

CENTURION ACQUISITION CORP.

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-42127   N/A
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS. Employer
Identification No.)

 

667 Madison Avenue

5th Floor

New York, New York 10065

 

(Address of principal executive offices, including zip code)

 

Registrant’s telephone number, including area code: (646) 527-7350 ext. 619

 

Not Applicable

(Former name or former address, if changed since last report)

 

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, $0.0001 par value, and one-half of one redeemable warrant   ALFUU   The Nasdaq Stock Market LLC
Class A ordinary shares, par value $0.0001 per share   ALF   The Nasdaq Stock Market LLC
Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share   ALFUW   The Nasdaq Stock Market LLC

 

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))

 

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 3.03. Material Modification to Rights of Security Holders.

 

The information disclosed in Item 5.07 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03 to the extent required.

 

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

 

The information included in Item 5.07 of this Current Report on Form 8-K is incorporated by reference into this Item 5.03 to the extent required.

 

A copy of the amendment to the Articles (as defined below) is attached to this Current Report on Form 8-K as Exhibit 3.1 and incorporated herein by reference.

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

 

On June 12, 2026, Centurion Acquisition Corp. (the “Company”) held an extraordinary general meeting of shareholders (the “Extraordinary General Meeting”) at which its shareholders approved a proposal to amend the Company’s Amended and Restated Memorandum and Articles of Association (the “Articles”) to extend the date by which the Company must consummate a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar initial business combination from June 12, 2026 to June 12, 2027 (the “Extended Date”), or an earlier date than the Extended Date as determined by the Company’s board of directors and included in a public announcement (the “Extension Amendment”).

 

The following is a tabulation of the votes with respect to the Extension Amendment, which was approved by the Company’s shareholders:

 

For   Against   Abstain
21,799,309   8,283,145   0

 

In addition, on June 16, 2026, the Company filed with the Cayman Islands Registrar of Companies a notice of the special resolution amending the Articles. Under Cayman Islands law, the amendment to the Articles took effect upon approval of the Extension Amendment.

 

In connection with the Extraordinary General Meeting, shareholders holding an aggregate of 23,802,843 Class A ordinary shares, par value $0.0001 per share, of the Company exercised their right to redeem such shares for a pro rata portion of the funds held in the Company’s trust account (the “Trust Account”) as of June 16, 2026, including any interest earned on the funds held in the Trust Account. As a result, approximately $259.3 million (approximately $10.89 per share) was removed from the Trust Account to pay such holders and approximately $54 million remained in the Trust Account.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description of Exhibits
3.1   Amendment to the Company’s Amended and Restated Memorandum and Articles of Association. 
104   Cover Page Interactive Data File-Embedded within the inline XBRL document.

 

1

 

 

SIGNATURES

 

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.

 

  CENTURION ACQUISITION CORP.
     
  By: /s/ Mark Gerhard
  Name:  Mark Gerhard
  Title: Chief Executive Officer and Director

 

Date: June 16, 2026

 

 

2

 

 

FAQ

What did Centurion Acquisition Corp. (ALF) shareholders approve at the extraordinary meeting?

Shareholders approved an amendment to Centurion Acquisition Corp.’s Articles extending the deadline to complete an initial business combination to June 12, 2027. This extension gives the SPAC additional time to identify and close a qualifying transaction.

How did Centurion Acquisition Corp. (ALF) shareholders vote on the extension amendment?

The extension amendment received 21,799,309 votes in favor and 8,283,145 votes against, with no abstentions. This voting outcome authorized the company to push back its business combination deadline by one year.

How many Centurion Acquisition Corp. (ALF) shares were redeemed in connection with the meeting?

Holders of 23,802,843 Class A ordinary shares of Centurion Acquisition Corp. redeemed their shares. These investors chose to take cash from the trust account instead of remaining invested while the SPAC seeks a business combination.

How much cash did Centurion Acquisition Corp. (ALF) pay out for redemptions and what per-share amount?

Centurion paid approximately $259.3 million from its trust account to redeeming shareholders, equal to about $10.89 per share. This reflects each redeeming investor’s pro rata portion of the funds held in trust as of June 16, 2026.

How much remains in Centurion Acquisition Corp.’s (ALF) trust account after redemptions?

After paying redemption requests, approximately $54 million remained in Centurion Acquisition Corp.’s trust account. This residual cash balance is available to support a future initial business combination within the extended deadline.

When did the amendment to Centurion Acquisition Corp.’s Articles become effective?

The amendment became effective under Cayman Islands law after shareholder approval and the company’s filing of a notice of the special resolution with the Cayman Islands Registrar of Companies on June 16, 2026.

Filing Exhibits & Attachments

5 documents