Form 8-K - Current report

false 0001844507 0001844507 2023-11-17 2023-11-17 0001844507 avhi:CommonStockSharesIssuedExcludingSharesSubjectToPossibleRedemptionMember 2023-11-17 2023-11-17 0001844507 us-gaap:CommonStockMember 2023-11-17 2023-11-17 0001844507 us-gaap:AdditionalPaidInCapitalMember 2023-11-17 2023-11-17

 

 

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): November 17, 2023

 

 

Achari Ventures Holdings Corp. I

(Exact name of registrant as specified in its charter)

 

 

 

Delaware		001-40906		86-1671207
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

60 Walnut Avenue, Suite 400

Clark, NJ 07066

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: [phone]

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 share of common stock, par value $0.0001 per share, and one Redeemable Warrant		AVHIU		The Nasdaq Stock Market LLC
Common Stock, par value $0.0001 per share		AVHI		The Nasdaq Stock Market LLC
Redeemable Warrants		AVHIW		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. ☐

 

 

 

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Item 8.01.

Other Events

Monthly Extension Option Exercise

On November 17, 2023, Achari Ventures Holdings Corp. I, a Delaware company (the “Company”), notified Continental Stock Transfer & Trust Company, the trustee of the Company’s trust account (the “Trust Account”), that it was extending (an “Extension”) the time available to the Company to consummate its initial business combination, from November 19, 2023 to December 19, 2023 (the “Fifth Extension”), pursuant to and in accordance with the terms of the Company’s Fourth Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) and the Company’s Second Amended and Restated Investment Management Trust Agreement (the “Trust Agreement”). The Fifth Extension is the fifth of up to six (6) one-month Extensions permitted under the Company’s Certificate of Incorporation and Trust Agreement.

Pursuant to the terms of the Company’s Certificate of Incorporation and Trust Agreement, on November 17, 2023, with respect to the exercise of the Fifth Extension, the Company deposited $31,916.05 into the Company’s Trust Account in connection with the exercise of the Fifth Extension. Such deposit with respect to the Fifth Extension was made using funds held outside of the Company’s Trust Account and available to the Company to fund working capital requirements. As of November 17, 2023 (and, for the avoidance of doubt, inclusive of the deposit of $31,916.05 into the Trust Account in connection with the exercise of the Fourth Extension as described above), the Trust Account held approximately $6,922,877.91.

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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.

 

				ACHARI VENTURES HOLDINGS CORP. I
Dated: November 22, 2023
				By:		/s/ Vikas Desai
				Name:		Vikas Desai
				Title:		Chief Executive Officer

Document and Entity Information	Nov. 17, 2023
Document And Entity Information [Line Items]
Amendment Flag	false
Entity Central Index Key	0001844507
Document Type	8-K
Document Period End Date	Nov. 17, 2023
Entity Registrant Name	Achari Ventures Holdings Corp. I
Entity Incorporation State Country Code	DE
Entity File Number	001-40906
Entity Tax Identification Number	86-1671207
Entity Address, Address Line One	60 Walnut Avenue
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Clark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07066
City Area Code	(732)
Local Phone Number	340-0700
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Common Stock Shares Issued Excluding Shares Subject To Possible Redemption [Member]
Document And Entity Information [Line Items]
Security 12b Title	Units, each consisting of one share of common stock, par value $0.0001 per share, and one Redeemable Warrant
Trading Symbol	AVHIU
Security Exchange Name	NASDAQ
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common Stock, par value $0.0001 per share
Trading Symbol	AVHI
Security Exchange Name	NASDAQ
Additional Paid-in Capital [Member]
Document And Entity Information [Line Items]
Security 12b Title	Redeemable Warrants
Trading Symbol	AVHIW
Security Exchange Name	NASDAQ

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