Cartesian Growth II (REEUF) approves final merger deadline extension
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Cartesian Growth Corporation II approved the twelfth one-month extension of the period in which it may complete an initial business combination, moving the deadline to November 5, 2025. This is the twelfth and final one-month extension allowed under its amended and restated memorandum and articles of association.
To fund this extension, the company drew $250,000 of “Extension Funds” under an unsecured promissory note with a principal amount of up to $2,400,000 dated November 6, 2024, in favor of CGC II Sponsor LLC. The sponsor or its affiliates or permitted designees will deposit these Extension Funds into the trust account established in connection with the company’s initial public offering.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 2.03, 8.01
2 items
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 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
FAQ
What did Cartesian Growth Corporation II (REEUF) announce in this 8-K?
Cartesian Growth Corporation II approved the twelfth one-month extension of the period during which it may complete an initial business combination, extending the deadline to November 5, 2025.
How is Cartesian Growth Corporation II funding the latest extension?
The company drew $250,000 in Extension Funds from an unsecured promissory note with a principal amount of up to $2,400,000, dated November 6, 2024, in favor of CGC II Sponsor LLC.
Where will the $250,000 Extension Funds be held for Cartesian Growth Corporation II (REEUF)?
Under the company’s Articles, the sponsor or its affiliates or permitted designees will deposit the $250,000 Extension Funds into the trust account established in connection with the initial public offering.
Is this the final extension of the business combination period for Cartesian Growth Corporation II?
Yes. The filing states that this Extension is the twelfth of twelve one-month extensions permitted under the company’s amended and restated memorandum and articles of association.
What is the role of CGC II Sponsor LLC in this Cartesian Growth Corporation II (REEUF) extension?
CGC II Sponsor LLC is the holder of the unsecured promissory note of up to $2,400,000, from which the company drew $250,000 in Extension Funds that will be deposited into the trust account.
Which securities of Cartesian Growth Corporation II are listed on Nasdaq?
The company lists units (each consisting of one Class A ordinary share and one-third of one warrant) under the symbol RENEU, Class A ordinary shares under RENE, and warrants under RENEW on The Nasdaq Stock Market LLC.