Item 8.01. Other Events
As previously disclosed, at a special meeting of the stockholders (the "Special
Meeting") of Forum Merger IV Corporation (the "Company") held on March 7, 2023,
the Company's stockholders voted in favor of a proposal to amend the Company's
Amended and Restated Certificate of Incorporation to extend the date by which it
must consummate an initial business combination (the "Deadline Date") from March
22, 2023 to April 22, 2023 and to provide the Company with the right to extend
the date by which it must consummate an initial business combination up to seven
times for an additional one month each time (the "Extension") up to November 22,
2023.
Also as previously disclosed, if an Extension is implemented, the Company shall
deposit from the Company's working capital account into the Company's trust
account, for each such additional month, the lesser of (a) $175,000 or (b) $0.05
for each public share then outstanding (the "Contribution"), which the Company
shall deposit into the Company's trust account at the beginning of each month
(the "Monthly Deposit"), for an aggregate deposit of up to the lesser of (a)
$1,225,000 or (b) $0.05 for each public share then outstanding (if all
additional extensions are exercised). In the event the Company's working capital
account has been depleted, the Company's sponsor, Forum Investors IV LLC, a
Delaware limited liability company, or one of more of its affiliates, members or
third party designees shall lend the Company the Monthly Deposit in the form of
a non-interest bearing, unsecured promissory note, which the Company shall
deposit into the Company's trust account.
As there were 6,361,299 public shares outstanding following redemptions in
connection with the Special Meeting, the Contribution amount for each month of
the Extension is equal to $175,000, or up to an aggregate of $1,225,000 in the
event the Extension is effectuated for the full seven months.
On April 18, 2023, the Company issued a press release announcing that its board
of directors (the "Board") has elected to extend the Deadline Date from April
22, 2023 for an additional month to May 22, 2023, the first of seven potential
one-month extensions of the Deadline Date available to the Company. In
connection with the Board's determination to extend the Deadline Date to May 22,
2023, $175,000 was deposited into the Company's trust account on April 18,
2023.
A copy of the press release is attached as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
99.1 Press Release, dated April 18, 2023.
104 Cover Page Interactive Data File (formatted as Inline XBRL)
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FORUM MERGER IV CORPORATION 
