STOCK TITAN

Cayson shareholders approve up to 12 deal extensions

Each month used requires an aggregate $60,000 loan from the company’s sponsors, officers, directors, affiliates or designees.

(Very High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Cayson Acquisition Corp (CAPN) shareholders approved amendments allowing the board to extend the business-combination deadline monthly for up to 12 months, until September 23, 2027. Each month used requires the company’s sponsors, officers, directors, affiliates or designees to lend an aggregate $60,000 for deposit into the trust account. The adjournment proposal was not voted on because a quorum was obtained and the other proposals were approved.

Effective September 23, 2026, Chief Executive Officer Yawei Cao loaned the company $60,000 under a note bearing no interest and repayable in full upon completion of a business combination; the funds will be deposited into the trust account. Holders redeemed 1,428,025 public shares in connection with the meeting. The proposals received 2,858,762 votes for and 1,357,803 against.

Positive

  • None.

Negative

  • None.

Filing Explained

Under the approved extension, each month the board uses requires an aggregate $60,000 contribution deposited into the trust, increasing the per-share redemption price payable upon a business-combination closing or liquidation.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
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, or exhibit attachments filed with this report.
CEO loan $60,000 Effective September 23, 2026; repayable upon consummation of a business combination
Required insider loan $60,000 per month For each month used under the extension
Maximum extension 12 months Until September 23, 2027
Shares represented 4,216,565 ordinary shares At the September 23, 2026 meeting
Votes for 2,858,762 Shareholder proposals
Votes against 1,357,803 Shareholder proposals
Public shares redeemed 1,428,025 shares In connection with the meeting
initial business combination financial
"consummate an initial business combination"
An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.
trust account financial
"deposited into the trust account"
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.
per-share redemption price financial
"increase the per-share redemption price"
promissory note financial
"loan is evidenced by a promissory note"
A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What extension did CAPN shareholders approve?

Shareholders approved an extension that allows the board to move the business-combination deadline monthly for up to 12 months, until September 23, 2027. Each month used requires an aggregate $60,000 loan from the company’s sponsors, officers, directors, affiliates or designees, for deposit into the trust account.

How much did CAPN CEO Yawei Cao lend the company?

Chief Executive Officer Yawei Cao loaned Cayson Acquisition Corp $60,000 effective September 23, 2026. The note bears no interest and is repayable in full upon completion of a business combination; the funds will be deposited into the trust account.

How many CAPN public shares were redeemed?

Holders of 1,428,025 public shares exercised their right to redeem those shares for a pro rata amount held in the company’s trust account.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): September 23, 2026

 

CAYSON ACQUISITION CORP
(Exact Name of Registrant as Specified in Charter)

 

Cayman Islands   001-42280   N/A

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

205 W 37th St, New York, New York   10018
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (203) 998-5540

 

N/A
(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 (see General Instruction A.2. below):

 

☐ 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 ordinary share and one right   CAPNU   The Nasdaq Stock Market LLC
         
Ordinary Shares, par value $0.0001 per share   CAPN   The Nasdaq Stock Market LLC
         
Rights, each entitling the holder to one tenth of one ordinary share upon the completion of the Company’s initial business combination   CAPNR   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 ☒

 

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 1.01. Entry into a Definitive Material Agreement.

 

The information included in Item 2.03 and Item 5.07 is incorporated by reference into this item to the extent required.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

Effective as of September 23, 2026, Yawei Cao, the Chief Executive Officer of Cayson Acquisition Corp (the “Company”), loaned the Company an aggregate of $60,000. Such funds will be deposited into the trust account established by the Company in connection with its initial public offering pursuant to the Company’s Amended and Restated Memorandum and Articles of Association and trust agreement, as amended, governing the trust account in order to extend the time that the SPAC has to consummate an initial business combination (a “Business Combination”) as described below. The loan is evidenced by a promissory note (the “Note”) issued by the Company to Mr. Cao. The Note bears no interest and is repayable in full upon consummation of a Business Combination.

 

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosures set forth in this Item 2.03 are intended to be summaries only and are qualified in their entirety by reference to the Note.

 

Item 5.03. Amendments to Articles of Incorporation or Bylaws.

 

The information included in Item 5.07 is incorporated by reference into this item to the extent required.

 

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

 

On September 23, 2026, the Company held an extraordinary general meeting (the “Meeting”) to approve the following resolutions:

 

  ● to resolve as a special resolution, that the Company’s amended and restated memorandum and articles of association as adopted by special resolution dated September 19, 2024 with effect from September 23, 2024 and amended on March 18, 2026 (the “Existing Memorandum and Articles”) be amended (the “Extension Amendment”), pursuant to which the board of directors of the Company (the “Board”) may extend the date (the “Extension”) by which the Company must consummate a business combination (as defined in the Existing Memorandum and Articles) on a monthly basis, up to twelve (12) months (or until September 23, 2027) (the “Extended Date”), unless the closing of a business combination shall have occurred prior thereto or such earlier date as shall be determined by the Board in its sole discretion, provided that the Company’s sponsors, officers, directors, affiliates or designees (collectively, the “Insiders”) lend to the Company (each a “Contribution”) an aggregate of US$60,000 for each month utilized to consummate an initial business combination, which Contributions shall be deposited by the Company into the Trust Account (as defined in the Existing Memorandum and Articles) and thereby increase the per-share redemption price paid in connection with the ultimate consummation of a business combination or the Company’s liquidation (the “Extension Proposal”);
     
  ● to resolve as an ordinary resolution, that the Investment Management Trust Agreement, dated as of September 19, 2024 and amended on March 18, 2026 (the “Trust Agreement”), entered into by and between Continental Stock Transfer & Trust Company, as trustee (the “Trustee”), and the Company be amended (the “Trust Amendment”) to change the amount of funds to be deposited into the trust account in connection with extending the time to complete an initial business combination as described in the Extension Proposal (the “Trust Amendment Proposal”); and
     
  ● to resolve as an ordinary resolution, that the adjournment of the Extraordinary General Meeting to a later date or dates, if necessary, to approve the Extension Proposal and the Trust Amendment Proposal be approved (the “Adjournment Proposal”).

 

 

 

 

An aggregate of 4,216,565 ordinary shares of the Company, which represented a quorum of the outstanding ordinary shares entitled to vote as of the record date of September 1, 2026, were represented in person or by proxy at the Meeting.

 

The Company’s shareholders voted on the proposals at the Meeting, which were approved as follows:

 

  (1) Proposal No. 1 — The Extension Proposal

 

For   Against   Abstain   Broker Non-Votes
2,858,762   1,357,803   0   0

 

  (2) Proposal No. 2 — The Trust Amendment Proposal

 

For   Against   Abstain   Broker Non-Votes
2,858,762   1,357,803   0   0

 

Because quorum was obtained and the other proposals were approved, the Company did not hold a vote on the Adjournment Proposal.

 

The amendments to the Amended and Restated Memorandum and Articles of Association of the Company to be filed with the Cayman Islands Registrar of Companies to effectuate the foregoing are attached hereto as Exhibit 3.1. The Company will also amend that certain Investment Management Trust Agreement, dated September 19, 2024 and amended March 18, 2026, to effectuate the revised payment terms for the Extension adopted at the Meeting.

 

In connection with the Meeting, holders of an aggregate of 1,428,025 public shares of the Company exercised their right to have their shares redeemed for a pro rata amount held in the Company’s trust account.

 

The Company is continuing to seek to attempt to consummate an initial business combination.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit   Description
3.1   Amendments to Amended and Restated Memorandum and Articles of Association
10.1   Promissory Note
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

Cautionary Note Regarding Forward Looking Statements

 

Neither the Company nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information contained in this Current Report on Form 8-K. This Current Report on Form 8-K is not intended to be all-inclusive and is not intended to form the basis of any investment decision or any other decision in respect of the Company or its proposed business combination.

 

This Current Report on Form 8-K include “forward-looking statements” made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements generally are identified by the words or phrases such as “aspire,” “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “will be,” “will continue,” “will likely result,” “could,” “should,” “believe(s),” “predicts,” “potential,” “continue,” “future,” “opportunity,” seek,” “intend,” “strategy,” or the negative version of those words or phrases or similar expressions are intended to identify such forward-looking statements.

 

The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

 

 

 

 

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: September 23, 2026 CAYSON ACQUISITION CORP
   
  By: /s/ Yawei Cao
    Yawei Cao
    Chief Executive Officer

 

 

 

Filing Exhibits & Attachments

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