# EDGAR Filing Document

**Accession Number:** 0001914023
**File Stem:** 0001213900-23-019569
**Filing Date:** 2023-3
**Character Count:** 26453
**Document Hash:** 8a8a6b46e196dbf5e72f8c8bcb0778af
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-019569.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001213900-23-019569

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230312

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Acri Capital Acquisition Corp
- **CENTRAL INDEX KEY:** 0001914023
- **STANDARD INDUSTRIAL CLASSIFICATION:** BLANK CHECKS [6770]
- **IRS NUMBER:** 874328187
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41415
- **FILM NUMBER:** 23727496

**BUSINESS ADDRESS:**
- **STREET 1:** 13284 POND SPRING RD
- **STREET 2:** STE 405
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78729
- **BUSINESS PHONE:** 5126661277

**MAIL ADDRESS:**
- **STREET 1:** 13284 POND SPRING RD
- **STREET 2:** STE 405
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78729

?xml version="1.0" encoding="utf-8"?

**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**

**March 13, 2023 (March 12, 2023)**

Date of Report (Date of earliest event reported)

**Acri Capital Acquisition Corporation**

(Exact Name of Registrant as Specified in its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-41415** | **87-4328187** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **13284 Pond Springs Rd, Ste 405** <br> **Austin, Texas** | **78729** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **512-666-1277**

N/A

(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

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

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

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which<br> registered** |
| Units, each consisting of one share of Class A Common Stock and on-half of one Warrant | ACACU | The Nasdaq Stock Market LLC |
| Class A Common Stock, par value $0.0001 per share | ACAC | The Nasdaq Stock Market LLC |
| Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 | ACACW | 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant**

On March 12, 2023, an aggregate of $227,730.87 (the "**Monthly Extension Payment**") was deposited into the trust account of Acri Capital Acquisition Corporation, a Delaware corporation (the "**Company**") for the public shareholders, representing $0.0625 per public share, which enables the Company to extend the period of time it has to consummate its initial business combination by one month from March 14, 2023 to April 14, 2023 (the "**Extension**"). The Extension is the first of the nine one-month extensions permitted under the Company's governing documents.

In connection with the Monthly Extension Payment, the Company issued an unsecured promissory note of $227,730.87 (the "**Note**") to its sponsor, Acri Capital Sponsor LLC (the "**Sponsor**").

The Note is non-interest bearing and payable (subject to the waiver against trust provisions) on the earlier of (i) consummation of the Company's initial business combination and (ii) the date of the liquidation of the Company. The principal balance may be prepaid at any time, at the election of the Company. The holder of the Note has the right, but not the obligation, to convert the Note, in whole or in part, respectively, into private placement warrants (the "**Warrants**") of the Company, as described in the prospectus of the Company (File Number 333-263477), by providing the Company with written notice of its intention to convert the Note at least two business days prior to the closing of the Company's initial business combination. The number of Warrants to be received by the holder in connection with such conversion shall be an amount determined by dividing (x) the sum of the outstanding principal amount payable to the holder, by (y) $1.00.

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.

A copy of the Note is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. The disclosures set forth in this Item 2.03 are intended to be summaries only and are qualified in their entirety by reference to the Note.

 **Item 3.02 Unregistered Sales of Equity Securities.**

The information disclosed under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02 to the extent required herein. The Warrants, if any, (1) may not, subject to certain limited exceptions, be transferable or salable by the Sponsor until 30 days after the completion of the Company's initial business combination and (2) are entitled to registration rights.

**Item 7.01 Regulation FD Disclosure.**

On March 13, 2023, the Company issued a press release (the "**Press Release**") announcing that the Monthly Extension Payment had been made. A copy of the Press Release is furnished as Exhibit 99.1 hereto. The information in this Item 7.01 and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits

---

| | |
|:---|:---|
| **Number** | **Description** |
| 10.1 | [Promissory Note, dated March 13, 2023, issued by Acri Capital Acquisition Corporation to Acri Capital Sponsor LLC](ea175131ex10-1_acricap.htm) |
| 99.1 | [Press Release, dated March 13, 2023](ea175131ex99-1_acricap.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

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.

---

| | | |
|:---|:---|:---|
|  | **Acri Capital Acquisition Corporation** | **Acri Capital Acquisition Corporation** |
| Date: March 13, 2023 | By: | /s/ "Joy" Yi Hua |
|  | Name: | "Joy" Yi Hua |
|  | Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**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 COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.**

**<u>PROMISSORY NOTE</u>**

Principal Amount: US$227,730.87 <br> Dated: March 13, 2023 <br> New York, New York

**FOR VALUE RECEIVED**, Acri Capital Acquisition Corporation (the "**Maker**" or the "**Company**") promises to pay to the order of Acri Capital Sponsor LLC, or its registered assignees or successors in interest (the **"Payee**"), the principal sum of US$ TWO HUNDRED TWENTY-SEVEN THOUSAND SEVEN HUNDRED THIRTY AND EIGHTY-SEVEN HUNDREDTHS (US$227,730.87, on the terms and conditions described below. All payments on this Note shall be made by wire transfer of immediately available funds to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this note (the "**Note**").

1. **Principal.** The principal balance of this Note shall be payable by the Maker to the Payee upon the
 earlier of (such date, the "**Maturity Date** "): (a) the date on which the
 Maker consummates a business combination or merger with a qualified target company (as described
 in its Prospectus (as defined below)) (a "**Business Combination** ",), and
 (b) the date of the liquidation of the Maker. The principal balance may be prepaid at any
 time prior to the Maturity Date without penalty. Under no circumstances shall any individual,
 including but not limited to any officer, director, employee or stockholder of the Maker,
 be obligated personally for any obligations or liabilities of the Maker hereunder.

2. **Conversion Rights**. The Payee has the right, but not the obligation, to convert this Note, in whole
 or in part, into private placement warrants (the "**Warrants**") of the Maker,
 with each whole Warrant entitling the holder thereof to purchase one share of Class A common
 stock of the Maker at a price of $11.50 per share, subject to adjustment as described in
 the Prospectus of the Maker (File Number 333-263477) (the "**Prospectus** "),
 by providing the Maker with written notice of its intention to convert this Note at least
 two business days prior to the closing of a Business Combination. The number of Warrants
 to be received by the Payee in connection with such conversion shall be an amount determined
 by dividing (x) the sum of the outstanding principal amount payable to such Payee by (y)
 $1.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Fractional Warrants**. No fractional Warrants will be issued upon conversion of this Note. In lieu
 of any fractional Warrants to which Payee would otherwise be entitled, the Maker will pay
 to Payee in cash the amount of the unconverted principal balance of this Note that would
 otherwise be converted into such fractional Warrants.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Effect of Conversion**. If the Maker timely receives notice of the Payee's intention to
 convert this Note at least two business days prior to the closing of a Business Combination,
 this Note shall be deemed to be converted on such closing date. At its expense, the Maker
 will, upon receipt of such conversion notice, as soon as practicable after consummation of
 a Business Combination, issue and deliver to Payee, at Payee's address as requested
 by Payee in its conversion notice, a certificate or certificates for the number of Warrants
 to which Payee is entitled upon such conversion (bearing such legends as are customary pursuant
 to applicable state and federal securities laws), including a check payable to Payee for
 any cash amounts payable as a result of any fractional Warrants as described herein.

3. **Interest.** This Note does not carry any interest on the unpaid principal balance of this Note, provided,
 that, any overdue amounts shall accrue default interest at a rate per annum equal to the
 interest rate which is the prevailing short term United States Treasury Bill rate, from the
 Maturity Date until the day on which all sums due are received by the Payee.

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 but not limited to reasonable
 attorney's and auditor's fees and expenses, 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 (each, an "**Event of Default** "):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **Failure to Make Required Payments.** Failure by the Maker to pay the principal amount due pursuant
 to this Note more than 5 business days of the Maturity Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **Voluntary Bankruptcy, etc.** The commencement by the 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 the 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 the Maker generally to pay its debts as such debts become due, or the taking of
 corporate action by the Maker in furtherance of any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **Involuntary Bankruptcy, etc.** The entry of a decree or order for relief by a court having jurisdiction
 in the premises in respect of the 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 the 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **Breach of Other Obligations.** The Maker fails to perform or comply with any one or more of its
 obligations under this Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **Cross Default.** Any present or future indebtedness of the Maker in respect of moneys borrowed
 or raised becomes (or becomes capable of being declared) due and payable prior to its stated
 maturity by reason of any event of default, or any such indebtedness is not paid when due
 or, as the case may be, within any applicable grace period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **Enforcement Proceedings.** A distress, attachment, execution or other legal process is levied or enforced
 on or against any assets of the Maker which is not discharged or stayed within 30 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **Unlawfulness and Invalidity.** It is or becomes unlawful for the Maker to perform any of its obligations
 under this Note, or any obligations of the Maker under this Note are not or cease to be legal,
 valid, binding or enforceable.

**6.** **Remedies.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon
 the occurrence of an Event of Default specified in Section 5(a) and 5(d) hereof, the Payee
 may, by written notice to the Maker, declare this Note to be due immediately and payable,
 whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder,
 shall become immediately due and payable without presentment, demand, protest or other notice
 of any kind, all of which are hereby expressly waived, notwithstanding anything contained
 herein or in the documents evidencing the same to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon
 the occurrence of an Event of Default specified in Sections 5(b), 5(c), 5(e), 5(f) and 5(g)
 hereof, the unpaid principal balance of this Note, and all other sums payable with regard
 to this Note hereunder, shall automatically and immediately become due and payable, in all
 cases without any action on the part of the Payee.

7. **Taxes.** The Maker will pay all amounts due hereunder free and clear of and without reduction
 for any taxes, levies, imposts, deductions, withholding or charges imposed or levied by any
 governmental authority or any political subdivision or taxing authority thereof with respect
 thereto ()"**Taxes** "). The Maker will pay on behalf of the Payee all such
 Taxes so imposed or levied and any additional amounts as may be necessary so that the net
 payment of principal and any interest on this Note received by the Payee after payment of
 all such Taxes shall be not less than the full amount provided hereunder.

8. **Waivers.** The 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 the Payee under
 the terms of this Note, and all benefits that might accrue to the 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 the Maker agrees that any real estate that may be levied upon pursuant to
 a judgment obtained by virtue hereof or any writ of execution issued hereon, may be sold
 upon any such writ in whole or in part in any order desired by the Payee.

9. **Unconditional Liability.** The 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 the Payee, and consents to any and all extensions of time, renewals,
 waivers, or modifications that may be granted by the 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 the Maker or affecting the Maker's
 liability hereunder. For the purpose of this Note, "business day" shall mean
 a day (other than a Saturday, Sunday or public holiday) on which banks are open in China
 and New York for general banking business.

10. **Notices.** All notices, statements or other documents which are required or contemplated by this
 Note shall be made in writing and delivered: (i) personally or sent by first class registered
 or certified mail, overnight courier service to the address most recently provided in writing
 to such party or such other address as may be designated in writing by such party, (ii) by
 fax to the number most recently provided to such party or such other fax number as may be
 designated in writing by such party, or (iii) by email, to the email address most recently
 provided to such party or such other email 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 (a) the day of delivery, if delivered personally, (b) only if the receipt is acknowledged,
 the day after such receipt, if sent by fax or email, (c) the business day after delivery
 to an overnight courier service, if sent by an overnight courier service, or (d) 5 days after
 mailing if sent by first class registered or certified mail.

11. **Construction.** This Note shall be construed and enforced in accordance with the laws of New York, without
 regard to conflict of law provisions thereof.

12. **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. The Payee hereby waives any and all right, title, interest or claim of any
 kind ()"**Claim**") in or to any amounts contained in the trust account deriving
 from the proceeds of the IPO conducted by the Maker and the proceeds of the sale of securities
 in a private placement (if any) prior to the effectiveness of the IPO, as described in greater
 detail in the Prospectus filed with the Securities and Exchange Commission in connection
 with the IPO (the "**Trust Account Funds** "), and hereby agrees not to seek
 recourse, reimbursement, payment or satisfaction for any Claim from the Trust Account Funds
 or any distribution therefrom for any reason whatsoever. If Maker does not consummate the
 Business Combination, this Note shall be repaid only from amounts other than Trust Account
 Funds, if any.

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.** This Note shall be binding upon the Maker and its successors and assignees and is for
 the benefit of the Payee and its successors and assignees, except that the Maker may not
 assign or otherwise transfer its rights or obligations under this Note. The Payee may at
 any time without the consent of or notice to the Maker assign to one or more entities all
 or a portion of its rights under this Note.

*[signature page follows]*

The Parties, intending to be legally bound hereby, have caused this Note to be duly executed by the undersigned as of the day and year first above written.

 

---

| | |
|:---|:---|
| **MAKER**: | **MAKER**: |
| **Acri Capital Acquisition Corporation** | **Acri Capital Acquisition Corporation** |
| By: |  |
| Name: | "Joy" Yi Hua |
| Title: | Chief Executive Officer |
| **PAYEE:** | **PAYEE:** |
| **Acri Capital Sponsor LLC** | **Acri Capital Sponsor LLC** |
| By: |  |
| Name: | "Joy" Yi Hua |
| Title: | Manager |

---

 

*[signature page to the promissory note]*

## Exhibit 99.1

**Exhibit 99.1**

**Acri Capital Acquisition Corporation. Announces**

**Extension of the Deadline for an Initial Business Combination**

Austin, Texas, March 13, 2023 (GLOBE NEWSWIRE) -- **Acri Capital Acquisition Corporation (the "Company") (Nasdaq: ACAC)**, a special purpose acquisition company, today announced that, in order to extend the date by which the Company mush complete its initial business combination from March 14, 2023 to April 14, 2023, for each public share that is not redeemed by the Company's stockholders in connection with such Extension (collectively, the "Remaining Shares", each, a "Remaining Share"), Acri Capital Sponsor LLC, the sponsor of the Company, has deposited into its trust account (the "Trust Account") an aggregate of $227,730.87 (the "Monthly Extension Payment"), representing $0.0625 per public share of the Company.

Pursuant to the Company's current Charter, the Company may extend on monthly basis from March 14, 2023 until December 14, 2023 or such an earlier date as may be determined by its board to complete a business combination by depositing the Monthly Extension Payment for each month into the Trust Account.

**About Acri Capital Acquisition Corporation** 

Acri Capital Acquisition Corporation is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses with one or more businesses or entities, provided that it will not undertake its initial business combination with any entity being based in or having the majority of its operations in China (including Hong Kong and Macau).

***Additional Information and Where to Find It***

The Company urges investors, stockholders and other interested persons to read the Proxy Statement, as well as other documents filed by the Company with the SEC. These documents contain important information about the Company and the Extension Amendment. Stockholders may obtain copies of the Proxy Statement, without charge, at the SEC's website at www.sec.gov or by directing a request to Acri Capital Acquisition Corporation, 13284 Pond Springs Rd, Ste 405, Austin, Texas 78729.

***Cautionary Statement Regarding Forward-Looking Statements***

This Press Release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

***Contact Information***

Company Contact:

Acri Capital Acquisition Corporation

Ms. "Joy" Yi Hua, Chairwoman

Email: acri.capital@gmail.com

Investor Relations Contact:

International Elite Capital

Annabelle Zhang

Telephone: +1(646) 866-7989

Email: acri@iecapitalusa.com