SPAC Seeks 12-Month Extension to Complete Cartiga Merger, Faces Delisting

summarizeSummary

Alchemy Investments Acquisition Corp 1 filed a definitive proxy for a September 1, 2026 shareholder meeting to extend its business combination deadline by up to 12 months, to September 9, 2027, to complete its merger with Cartiga. The SPAC has been delisted to the OTC and faces liquidation if the extension is not approved.

check_boxKey Events · Corporate Governance and Compliance · ALCUF

• Extension Vote Set for Sept 1

  Shareholders will vote on extending the SPAC's deadline to complete its business combination with Cartiga from September 9, 2026 to September 9, 2027, on a month-to-month basis.

• Trust Account at $9.1M

  As of July 29, 2026, the trust account holds approximately $9.15 million, implying a per-share redemption price of about $12.41. Public shareholders can redeem at this price if the extension is approved.

• Sponsor to Fund Monthly Extensions

  If approved, the sponsor will deposit the lesser of $30,000 or $0.03 per non-redeemed public share each month into the trust to fund the extension. These contributions are repayable upon deal completion.

• Nasdaq Delisting, OTC Trading

  The company's securities were delisted from Nasdaq in May 2026 for failing to complete a business combination within 36 months of its IPO. Shares now trade on the OTC Pink Market.

auto_awesomeAnalysis · ALCUF · Real Estate & Construction

Already delisted to the OTC, Alchemy Investments Acquisition Corp 1 is asking shareholders to extend its deadline to complete a business combination with Cartiga by up to 12 months, to September 9, 2027. Without approval, the company will liquidate, returning approximately $12.41 per share from its $9.1 million trust. To fund the extension, the sponsor will contribute up to $30,000 per month. The vote is scheduled for September 1, 2026, and shareholders can redeem their shares at the trust value. The board unanimously recommends approval, noting that insiders hold 75% of voting power and will vote in favor. Failure to extend means the sponsor's founder shares and private warrants become worthless, aligning their interests with completing the deal.