Karman Line Acquisition Corp. (XTER) shareholders approved changing the company’s name to Xterax Corporation II and adopting a second amended and restated memorandum and articles of association on October 19, 2026; both took effect upon approval under Cayman Islands law. The revised charter makes the name change and conforming changes, with no other changes to the prior articles.
As of September 15, 2026, 27,316,667 ordinary shares were entitled to vote; 23,394,375 were represented at the meeting, about 85.6%. The name-change proposal received 23,393,969 votes for, 4 against and 402 abstentions. Shareholders also approved an adjournment proposal, but the meeting was not adjourned because the name change passed.
Karman Line Acquisition Corp. (XTER) reported a six-month net loss of $44,863 for the period ended June 30, 2026, while it remained a blank-check company with no operating revenue and no business-combination target selected. At June 30, it had $18,500 in cash and an $80,772 working capital deficit. The company said it lacked liquidity to meet its working-capital needs for at least one year from the financial statements’ issuance date; its August 19 IPO subsequently provided sufficient liquidity for at least one year from issuance.
The company completed an IPO of 20,000,000 units for $200 million in gross proceeds and sold 650,000 private units for $6.5 million. It placed $200 million in a trust account. Each public unit included one Class A ordinary share and half a warrant; each whole warrant has an $11.50 exercise price. The company has 21 months from the IPO closing to complete a business combination, and public shareholders may redeem shares if it does not complete one within that period. Management reported no substantive discussions with a target.
Karman Line Acquisition Corp. asks shareholders to approve changing its name to Xterax Corporation II and adopting amended and restated articles. Annex A is headed “Xterax Corporation,” without “II,” while the proposal specifies “Xterax Corporation II.” If approved, shareholders would not need to exchange existing certificates, and ticker symbols XTERU, XTER and XTERW would remain unchanged.
The extraordinary meeting is scheduled for October 19, 2026. The name change requires at least two-thirds of votes cast by Class A and Class B shares voting together. The adjournment proposal requires a simple majority and, if approved, would permit postponement to solicit proxies if votes are insufficient or if the Board determines more time is necessary or convenient to effect the name change. No redemption right applies to either proposal, and no dissenters’ or appraisal rights are provided for the name change.