Cycurion (CYCU) Proxy Filing summary

Executive summary

• Special Meeting scheduled for January 8, 2025, to vote on extending the deadline to complete a business combination by three months, from January 11, 2025, to April 11, 2025.

• The extension is needed due to insufficient time to finalize the merger with Cycurion, Inc. and related registration requirements.

• If the extension is not approved, the company will liquidate and redeem all public shares at approximately $10.55 per share.

• The sponsor and financial advisor, holding a majority of shares, have agreed to vote in favor, ensuring approval.

• Stockholders can redeem their shares for cash regardless of their vote on the proposals.

Voting matters and shareholder proposals

• Proposal 1: Amend the Certificate of Incorporation to extend the business combination deadline to April 11, 2025.

• Proposal 2: Amend the Trust Agreement to allow the extension with a nominal $100 deposit.

• Proposal 3: Adjournment proposal to allow more time for proxy solicitation if needed.

• All proposals are expected to pass due to majority insider ownership.

Board of directors and corporate governance

• The board unanimously recommends voting in favor of all proposals.

• The record date for voting is December 9, 2024; only holders as of this date may vote.

• Sponsor and directors collectively own about 95% of outstanding shares.