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 22, 2022

 

ALPHAVEST ACQUISITION CORP

(Exact name of registrant as specified in its charter)

 

Cayman Islands   001-41574   N/A

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

420 Lexington Ave, Suite 2446

New York, NY 10170

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code 203-998-5540

 

Not Applicable

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

 

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 ordinary share and one right   ATMVU   The Nasdaq Stock Market LLC
Ordinary Shares, par value $0.0001 per share   ATMV   The Nasdaq Stock Market LLC
Rights, each right entitling the holder thereof to one-tenth of one ordinary share   ATMVR   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 ☒

 

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. ☐

 

 

 

 
 

 

Item 8.01. Other Events.

 

On December 22, 2022, AlphaVest Acquisition Corp (the “Company”) consummated its initial public offering (“IPO”) of 6,000,000 units (the “Units”). Each Unit consists of one ordinary share of the Company, par value $0.0001 per share (the “Ordinary Shares”) and one right (the “Rights”), with each Right entitling the holder thereof to receive one-tenth of one Ordinary Share upon the completion of an initial business combination, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $60,000,000. On December 29, 2022, EarlyBirdCapital, Inc. exercised its over-allotment option (the “Overallotment”) to purchase an additional 900,000 Units at a public offering price of $10.00 per Unit, generating additional gross proceeds to the Company of $9,000,000.

 

Simultaneously with the closing of the IPO, the Company completed the sale of 365,000 private units to AlphaVest Holding LP (the “Sponsor Private Units”) at a purchase price of $10.00 per Sponsor Private Unit, and 25,000 private units to EarlyBirdCapital, Inc. (the “EBC Private Units”, together with the Sponsor Private Units, the “Private Units”), at a purchase price of $10.00 per EBC Private Unit, generating gross proceeds to the Company of $3,900,000 for all Private Units. Simultaneously with the closing of the Overallotment, the Company completed the private sale of an additional 37,904 Sponsor Private Units, at a purchase price of $10.00 per Sponsor Private Unit, and an additional 2,596 EBC Private Units, at a purchase price of $10.00 per EBC Private Unit, generating additional gross proceeds to the Company of $405,000.

 

A total of $71,030,000 of the proceeds from the IPO and the sale of the Private Units (including the Overallotment for the Units and Private Units) were placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as trustee.

 

An audited balance sheet dated as of December 22, 2022, reflecting receipt of the proceeds upon consummation of the IPO and the sale of the Private Units has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

EXHIBIT INDEX

 

Exhibit

No.

   Description
99.1   Audited Balance Sheet as of December 22, 2022.

 

 
 

 

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.

 

 

ALPHAVEST ACQUISITION CORP

   
  By: /s/ Yong (David) Yan
  Name: Yong (David) Yan
  Title: Chief Executive Officer

 

Dated: December 29, 2022

 

 

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