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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):
July 26, 2023 (July 20, 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.
Item 1.01 Entry into a Material Definitive
Agreement.
On
July 20, 2023, Innovative International Acquisition Corp. (the “Company”) held an extraordinary general meeting of shareholders
(the “EGM”) for the purpose of considering and voting on the Extension Amendment and the Trust Agreement Amendment
(each as defined below) and, if presented, the proposal to adjourn the EGM to a later date.
At
the EGM, the shareholders of the Company approved the amendment to the Company’s investment management trust agreement, dated as
of October 26, 2021, as amended by Amendment No. 1, dated as of January 19, 2023, by and between the Company and American Stock Transfer &
Trust Company, LLC (the “Trust Agreement Amendment”). Pursuant to the Trust Agreement Amendment, the Company will deposit
into the Company’s trust account (the “Trust Account”), for each one-month extension, the lesser of (a) $90,000
and (b) $0.03 for each public share outstanding after giving effect to the redemption.
The foregoing description of the Trust Agreement
Amendment is a summary only and is qualified in its entirety by reference to the full text of the Trust Agreement Amendment, a copy of
which is attached as Exhibit 10.1 hereto and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
In
connection with the Trust Agreement Amendment, Innovative International Sponsor I LLC (the “Sponsor”) has agreed to make available
to the Company an aggregate amount of up to $270,000. The Company has issued a promissory note in favor of the Sponsor (the “Note”)
in the principal amount of up to $180,000 for expenses to be accrued in connection with up to two of the three contemplated monthly extensions.
The Note is non-convertible and bears no interest, and the principal balance is payable by the Company on the date on which the Company
consummates an initial business combination. The issuance of the Note was made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”).
The foregoing description is qualified in its entirety
by reference to the Note, a copy of which is attached as Exhibit 10.2 hereto and is incorporated herein by reference.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective July 21, 2023, Ms. Valarie Sheppard
resigned from her position as a director of the Company, including her membership on the Audit Committee, the Compensation Committee and
the Special Committee formed to consider and negotiate the terms and conditions of the Company’s proposed business combination.
Ms. Sheppard’s decision to resign did not result from a disagreement with the Company or any of its officers or other directors
on any matter relating to the operations, policies or practices of the Company.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change
in Fiscal Year
At
the EGM, the shareholders of the Company also approved an amendment (the “Extension Amendment”) to the Company’s
Amended and Restated Memorandum and Articles of Association, as amended on January 19, 2023, to extend the date by which the Company must
consummate an initial business combination up to three (3) times for an additional one (1) month each time, from July 29, 2023 to October
29, 2023 (which is 24 months from the closing of our IPO).
Under
Cayman Islands law, the Extension Amendment took effect upon approval by the shareholders. The Company plans to file the Extension
Amendment with the Cayman Islands General Registry within 15 days of the EGM.
The foregoing description is qualified in its entirety
by reference to the Extension Amendment, a copy of which is attached as Exhibit 3.1 hereto and is incorporated by reference herein.
Item 5.07 Submission of Matters to a Vote of Security Holders.
On
July 20, 2023, the Company held the EGM for the purposes of considering and voting upon the Extension Amendment, the Trust Agreement
Amendment and, if presented, the proposal to adjourn the EGM to a later date. As of the record date of June 20, 2023, there were a total
of 12,160,335 ordinary shares, including 4,110,335 Class A ordinary shares and 8,050,000 Class B ordinary shares, issued and outstanding
and entitled to vote at the EGM. There were 9,764,121 ordinary shares present at the EGM in person or represented by proxy, or approximately
80% of the total shares issued and outstanding and entitled to vote at the EGM, representing a quorum.
The Extension
Amendment was approved by a special resolution of the Company’s shareholders, and received
the following votes:
For | | |
Against | | |
Abstain | |
| 9,755,145 | | |
| 8,976 | | |
| 0 | |
The
Trust Agreement Amendment was approved by the affirmative vote of at least 65% of the Company’s outstanding Class A
ordinary shares and Class B ordinary shares, and received the following votes:
For | | |
Against | | |
Abstain | |
| 9,755,145 | | |
| 8,976 | | |
| 0 | |
The
adjournment proposal was not presented to the shareholders because there were sufficient votes to approve the Extension Amendment
and the Trust Agreement Amendment.
In connection with the EGM,
shareholders holding 339,914 public shares exercised their right to redeem their shares for a pro rata portion of the funds in the Company’s
Trust Account. As a result, approximately $3.78 million (approximately $11.13 per public share redeemed) will be removed from the Trust
Account to pay such holders and approximately $30.17 million will remain in the Trust Account. Following redemptions, the Company will
have 2,710,421 public shares outstanding.
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.
|
INNOVATIVE INTERNATIONAL ACQUISITION CORP. |
|
|
|
|
|
By: |
/s/ Mohan Ananda |
|
Name: |
Mohan Ananda |
|
Title: |
Chief Executive Officer |
Dated:
July 26, 2023
Exhibit 3.1
SECOND AMENDMENT TO THE
AMENDED AND RESTATED MEMORANDUM AND ARTICLES
OF ASSOCIATION
OF
INNOVATIVE INTERNATIONAL ACQUISITION CORP.
“RESOLVED, as a special resolution, that the Amended and
Restated Memorandum and Articles of Association of the Company be amended by the deletion of the existing Article 49.7 and Article 49.8
in their entirety and the insertion of the following language in their place:
“49.7 The Company
has until 21 months from the closing of the IPO to consummate a Business Combination; provided however, that if the Directors anticipate
that the Company may not be able to consummate a Business Combination within 21 months of the closing of the IPO, the Company may, at
the request of the Sponsor, extend the period of time to consummate a Business Combination up to three (3) times, each by an additional
one month extension (for a total of up to 24 months to complete a Business Combination), in accordance with terms as set out in the
trust agreement governing the Trust Account. In the event that the Company does not consummate a Business Combination within 21 months
from the closing of the IPO or within up to 24 months from the closing of the IPO (subject in the latter case to valid 1 month extensions
having been made in each case), the Company shall:
(a) cease all operations
except for the purpose of winding up;
(b) as promptly as reasonably
possible but not more than ten business days thereafter, redeem the Public Shares, at a per-Share price, payable in cash, equal to the
aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously
released to the Company (less taxes payable and up to US$100,000 of interest to pay dissolution expenses), divided by the number of then
Public Shares in issue, which redemption will completely extinguish public Members’ rights as Members (including the right to receive
further liquidation distributions, if any); and
(c) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s remaining Members and the Directors, liquidate and
dissolve,
subject in each
case to its obligations under Cayman Islands law to provide for claims of creditors and other requirements of Applicable Law.
49.8 In the event
that any amendment is made to the Articles:
(a)
to modify the substance or timing of the Company's obligation to allow redemption in connection with a Business Combination or redeem
100 per cent of the Public Shares if the Company does not consummate a Business Combination within 21 months after the closing of the
IPO or up to 24 months from the date of the closing of the IPO pursuant to Article 49.7 subject in the latter case to valid 1 month
extensions having been made in each case), in the event the Company has elected to extend the amount of time to complete a Business Combination
for three months, or such later time as the Members may approve in accordance with the Articles; or
(b) with respect to
any other provision relating to Members’ rights or pre-Business Combination activity, each holder of Public Shares who is not the
Sponsor, a Founder, Officer or Director shall be provided with the opportunity to redeem their Public Shares upon the approval or effectiveness
of any such amendment at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including
interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number
of then outstanding Public Shares. The Company’s ability to provide such redemption in this Article is subject to the Redemption
Limitation.”
Exhibit 10.1
AMENDMENT NO. 2 TO THE
INVESTMENT MANAGEMENT TRUST AGREEMENT
This Amendment No. 2 (this “Amendment”),
dated as of July 20, 2023, to the Investment Management Trust Agreement (as defined below) is made by and between Innovative International
Acquisition Corp. (the “Company”) and Equiniti Trust Company, LLC (f/k/a American Stock Transfer & Trust Company, LLC,)
as trustee (“Trustee”). All terms used but not defined herein shall have the meanings assigned to them in the Trust Agreement.
WHEREAS, the Company and the Trustee
entered into an Investment Management Trust Agreement dated as of October 26, 2021, as amended (the “Trust Agreement”);
WHEREAS, Section 1(i) of the Trust
Agreement sets forth the terms that govern the liquidation of the Trust Account under the circumstances described therein;
WHEREAS, at an extraordinary general
meeting of the Company held on July 20, 2023 (the “Special Meeting”), the Company’s shareholders approved (A) a proposal
to extend the date by which the Company must consummate an initial business combination up to three (3) times for an additional one (1)
month each time from July 29, 2023 to October 29, 2023 by amending the Company’s amended and restated memorandum and articles of
association; and (B) a proposal to amend the Trust Agreement to allow the Company to extend the Combination Period up to three (3) times
for an additional one (1) month each time from July 29, 2023 to October 29, 2023 by depositing into the trust account, for each one-month
extension, the lesser of (a) $90,000 and (b) $0.03 for each public share outstanding (the “Extension Payment”) after taking
into account any redemptions in connection with the solicitation of such shareholder approval at the Special Meeting; and
NOW THEREFORE, IT IS AGREED:
| 1. | Section 1(i) of the Trust Agreement is hereby amended and restated in its entirety as follows: |
“(i)
Commence liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a
letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as
either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief
Financial Officer or Chairman of the board of directors (the “Board”) or other authorized officer of the
Company (and in the case of Exhibit A, jointly signed by the Representative), and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account, including any amounts representing interest earned on the Trust Account,
less interest previously released to, or reserved for use by, the Company in an amount up to $100,000 to pay dissolution expenses
(as applicable) and less any other interest released to, or reserved for use by, the Company to pay taxes as provided in this
Agreement only as directed in the Termination Letter and the other documents referred to therein; provided that, in the event
that a Termination Letter has not been received by the Trustee by (A) the date that is 21 months after the closing of the IPO
(“Closing”); or (B) if the Chief Executive Officer or Chairman of the Board extends the time to complete
the Business Combination by one (1) month, the date that is 22 months after the Closing, provided that the Company deposits the
Monthly Extension Amount into the Trust Account on or prior to the date that is 21 months after the Closing, or (C) if the Chief
Executive Officer or Chairman of the Board further extends the time to complete the Business Combination by an additional 1-month
period, the date that is 23 months after the Closing, provided that the Company deposits the Monthly Extension Amount into the Trust
Account on or prior to the date that is 22 months after the Closing, or (D) if the Chief Executive Officer or Chairman of the Board
further extends the time to complete the Business Combination by an additional 1-month period, the date that is 24 months after the
Closing, provided that the Company deposits the Monthly Extension Amount into the Trust Account on or prior to the date that is 23
months after the Closing; but if the Company has not completed the Business Combination within the applicable monthly anniversary of
the Closing (“Last Date”), the Trust Account shall be liquidated in accordance with the procedures set
forth in the Termination Letter attached as Exhibit B hereto and distributed to the Public Shareholders as of the Last Date. The
form of any extension contemplated by this Section 1(i) shall be in substantially the form attached hereto as Exhibit
E.”
| 2. | Exhibit E of the Trust Agreement is hereby amended and restated in its entirety as follows: |
EXHIBIT
E
[Letterhead of Company] [Insert
date]
Equiniti Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Attn: Relationship Management
Re: Trust Account No. [ ] Extension Letter
Ladies and Gentlemen:
Pursuant to Section 1(i) of the
Investment Management Trust Agreement between Innovative International Acquisition Corp. (“Company”) and Equiniti Trust
Company (f/k/a American Stock Transfer & Trust Company, LLC), dated as of October 26, 2021 (as amended and supplemented from time
to time, the “Trust Agreement”), this is to advise you that the Company is extending the time available to consummate
a Business Combination for an additional one (1) month, from ; to ; (the “Extension”).
This Extension Letter shall serve
as the notice required with respect to Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise defined
shall have the meanings ascribed to them in the Trust Agreement.
In accordance with the terms of the
Trust Agreement, we hereby authorize you to deposit the Extension Payment, which will be wired to you, into the Trust Account investments
upon receipt.
This is the [ ] of up to three (3) Extension Letters.
Very truly yours,
|
INNOVATIVE INTERNATIONAL ACQUISITION CORP. |
|
|
|
By: |
|
|
Name: |
|
Title: |
cc: Cantor Fitzgerald & Co.
| 3. | All other provisions of the Trust Agreement shall remain unaffected by the terms hereof. |
| 4. | This Amendment may be signed in any number of counterparts, each of which shall be an original and
all of which shall be deemed to be one and the same instrument, with the same effect as if the signatures thereto and hereto were upon
the same instrument. A facsimile signature or electronic signature shall be deemed to be an original signature for purposes of this Amendment. |
| 5. | This Amendment is intended to be in full compliance with the requirements for an Amendment to the Trust
Agreement as required by Section 6(c) of the Trust Agreement, and every defect in fulfilling such requirements for an effective amendment
to the Trust Agreement is hereby ratified, intentionally waived and relinquished by all parties hereto. |
| 6. | This Amendment shall be governed by and construed and enforced in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another
jurisdiction. |
[signature page follows]
IN WITNESS WHEREOF, the parties have
duly executed this Amendment to the Investment Management Trust Agreement as of the date first written above.
EQUINITI TRUST COMPANY LLC,
as Trustee
Name: Carlos Pinto
Title: Senior Vice President, Director
INNOVATIVE INTERNATIONAL ACQUISITION CORP.
Name: Mohan Ananda
Title: Chief Executive Officer
Exhibit 10.2
THIS PROMISSORY
NOTE (“NOTE”) HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS
NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF
UNDER THE SECURITIES ACT OR AN OPINION OF MAKER REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.
PROMISSORY
NOTE
Principal Amount: Up to $180,000 |
Dated as of July 20, 2023 |
Innovative International Acquisition Corp., a Cayman Islands exempted company
(the “Maker”), promises to pay to the order of Innovative International Sponsor I LLC, or its registered assigns
or successors in interest (the “Payee”), or order, the principal sum of up to $180,000, or such lesser amount as
shall have been advanced by Payee to Maker and shall remain unpaid under this Note, in lawful money of the United States of America,
on the terms and conditions described below. All payments on this Note shall be made by check or wire transfer of immediately
available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written
notice in accordance with the provisions of this Note.
1.
Principal. The principal balance of Note shall be payable on the date on which Maker consummates its initial business combination
(the “Maturity Date”). The principal balance may be prepaid at any time. Under no circumstances shall any individual,
including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations
or liabilities of the Maker hereunder.
2. Interest. No interest shall accrue on the unpaid principal balance of this Note.
3.
Drawdown Requests. The principal of this Note may be drawn down from time to time prior to the Maturity Date, upon request
from Maker to Payee (each, a “Drawdown Request”). Payee shall fund each Drawdown Request within two (2) business days
after receipt of a Drawdown Request; provided, however, that the maximum amount of drawdowns collectively under this Note is $180,000
and such drawn funds may only be used for expenses accrued in connection with the extension of the date by which the Maker must complete
an initial business combination. Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests
even if prepaid. No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request
by Maker.
4.
Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of
any sum due under this Note, including (without limitation) reasonable attorneys’ fees, then to the payment in full of any late
charges and finally to the reduction of the unpaid principal balance of this Note.
5. Events of Default. The following shall constitute an event of default (“Event of Default”):
(a)
Failure to Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5)
business days of the date specified in Section 1 above.
(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization,
rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the
making by it of any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become
due, or the taking of corporate action by Maker in furtherance of any of the foregoing.
(c)
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in
respect of Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator,
assignee, custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the
winding- up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.
6. Remedies.
(a)
Upon the occurrence of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this
Note to be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable thereunder,
shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.
(b)
Upon the occurrence of an Event of Default specified in Sections 5(b) or 5(c), the unpaid principal balance of this Note, and all
other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action
on the part of Payee.
7.
Waivers. Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice
of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted
by Payee under the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any
property, real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under
execution, or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that
any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.
8.
Unconditional Liability. Maker hereby waives all notices in connection with the delivery, acceptance, performance, default,
or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any
other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or
consented to by Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee
with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may
become parties hereto without notice to Maker or affecting Maker’s liability hereunder.
9. Notices. All
notices, statements or other documents which are required or contemplated by this Agreement shall be in writing and delivered (i)
personally or sent by first class registered or certified mail, overnight courier service to the address designated in writing by
such party, (ii) by facsimile to the number most recently provided to such party or such other address or fax number as may be
designated in writing by such party or (iii) by electronic mail, to the electronic mail address most recently provided to such party
or such other electronic mail address as may be designated in writing by such party. Any notice or other communication so
transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic mail, one (1) business day after delivery to an overnight
courier service or five (5) days after mailing if sent by mail.
10.
Construction. THIS NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD
TO CONFLICT OF LAW PROVISIONS THEREOF.
11.
Severability. Any provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.
12.
Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and all right, title, interest or
claim of any kind (“Claim”) in or to any distribution of or from the trust account in which a portion of the proceeds
of the Maker’s initial public offering (the “IPO”) and concurrent private placement were deposited, as described
in greater detail in the registration statement and prospectus filed with the Securities and Exchange Commission in connection with the
IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason
whatsoever.
13. Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the Payee.
14.
Assignment. No assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by
operation of law or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required
consent shall be void.
[Signature
Page Follows]
IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first
above written.
|
INNOVATIVE INTERNATIONAL ACQUISITION CORP. |
|
|
|
By: |
/s/ Mohan Ananda |
|
Name: |
Mohan Ananda |
|
Title: |
Chief Executive Officer |
v3.23.2
Cover
|
Jul. 20, 2023 |
Document Information [Line Items] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Jul. 20, 2023
|
Current Fiscal Year End Date |
--03-31
|
Entity File Number |
001-40964
|
Entity Registrant Name |
Innovative International Acquisition Corp.
|
Entity Central Index Key |
0001854275
|
Entity Tax Identification Number |
00-0000000
|
Entity Incorporation, State or Country Code |
E9
|
Entity Address, Address Line One |
24681 La Plaza Ste 300
|
Entity Address, City or Town |
Dana Point
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
92629
|
City Area Code |
805
|
Local Phone Number |
907-0597
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Entity Emerging Growth Company |
true
|
Elected Not To Use the Extended Transition Period |
false
|
Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one-half of one Redeemable Warrant
|
Trading Symbol |
IOACU
|
Security Exchange Name |
NASDAQ
|
Class A ordinary shares, par value $0.0001 per share, included as part of the Units |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Class A ordinary shares, par value $0.0001 per share, included as part of the Units
|
Trading Symbol |
IOAC
|
Security Exchange Name |
NASDAQ
|
Redeemable Warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the Units |
|
Document Information [Line Items] |
|
Title of 12(b) Security |
Redeemable Warrants, each exercisable for one Class A ordinary share for $11.50 per share, included as part of the Units
|
Trading Symbol |
IOACW
|
Security Exchange Name |
NASDAQ
|
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