Inception Growth Acquisition Files Supplement to Proxy Statement, Proposed Extension of Trust Account Liquidation

Inception Growth Acquisition Limited (NASDAQ: IGTAU) recently filed a supplement to its definitive proxy statement on December 2, 2024. The supplement is in connection with the upcoming special meeting of stockholders scheduled for December 6, 2024. The purpose of this meeting is to approve the proposals outlined in the Company’s definitive proxy statement originally submitted to the Securities and Exchange Commission (SEC) on November 18, 2024.

The supplement to the definitive proxy statement aims to grant the Company the authority to extend the date for initiating the liquidation of the trust account, known as the Trust Account, established following the IPO. The proposal suggests allowing the Company the discretion to extend this date up to six times, with each extension lasting an additional month. To enable these extensions, the Company plans to deposit into the Trust Account an aggregate amount equivalent to $0.04 multiplied by the number of shares of common stock issued during the IPO that remain unredeemed for each one-month prolongation.

As per the filing, all capitalized terms not defined specifically within the supplement to the proxy statement are to be interpreted according to their meanings as described in the Company’s December 2, 2024 supplement.

Inception Growth Acquisition Limited, operating as an emerging growth company, holds various securities registered pursuant to Section 12(b) of the Act, including Units, Common Stock with a par value of $0.0001 per share, Redeemable Warrants exercisable at $11.50 per share, and Rights to receive one-tenth of one share of Common Stock, all of which are trading on The Nasdaq Stock Market LLC.

The report was signed on behalf of Inception Growth Acquisition Limited by Cheuk Hang Chow, the Chief Executive Officer, on December 2, 2024.

This filing provides insights into the Company’s strategic moves and adjustments in its Trust Account liquidation process, underlining its commitment to transparency and shareholder value optimization.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Inception Growth Acquisition’s 8K filing here.

About Inception Growth Acquisition

Inception Growth Acquisition Limited does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on sourcing opportunities in the technology, media and telecom, sports and entertainment, and non-gambling game sectors.