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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:
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
| 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 |
| 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 |
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|
Entity Registrant Name |
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Entity Central Index Key |
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Entity Address, Address Line One |
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