BACKGROUND
We are a blank check company incorporated on December 17, 2020 as a Cayman Islands exempted company for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.
On
February 17, 2021, we consummated the IPO of our units, each consisting of one Class A ordinary share, par value $0.0001 per share, which we refer to as the public shares, and
one-third of one redeemable warrant. Simultaneously with the closing of the IPO, we completed the private sale of 5,333,333 warrants (the private placement warrants), at a purchase price of $1.50
per private placement warrant, to our Sponsor generating gross proceeds to us of $8,000,000. The private placement warrants are identical to the warrants sold as part of the units in the IPO except that, so long as they are held by our Sponsor
or its permitted transferees: (1) they will not be redeemable by us; (2) they (including the Class A ordinary shares issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or
sold by our Sponsor until 30 days after the completion of the Business Combination; (3) they may be exercised by the holders on a cashless basis; and (4) they (including the ordinary shares issuable upon exercise of these warrants)
are entitled to registration rights.
Following the closing of the IPO, a total of $300,000,000, from the net proceeds of the sale of
the units in the IPO and the private placement warrants was placed in the Trust Account. The proceeds held in the Trust Account may be invested by the trustee only in United States government securities within the meaning of
Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule
2a-7 promulgated under the Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations. In March 2023, we liquidated the money market
funds held in the Trust Account and thereafter have held all funds in the Trust Account in an interest-bearing demand deposit account at a bank until the earlier of consummation of our initial business combination or liquidation, which could reduce
the dollar amount our public shareholders would receive upon any redemption or liquidation of the Company.
Our Sponsor, directors and
officers have interests in the proposals that may be different from, or in addition to, your interests as a shareholder, subject to their fiduciary duties under Cayman Islands law. These interests include, among other things, direct or indirect
ownership of founder shares and warrants that may become exercisable in the future and advances that will not be repaid in the event of our winding up and the possibility of future compensatory arrangements. See the section entitled The
Extraordinary General Meeting Interests of our Sponsor, Directors and Officers.
On the record date of the
Extraordinary General Meeting, there were [ ] ordinary shares outstanding, of which [ ] were public shares and 7,500,000 were founder shares. The founder shares carry voting rights in connection
with the Extension Amendment Proposal, the Trust Amendment Proposal and the Adjournment Proposal, and we have been informed by our Sponsor, which holds all 7,500,000 founder shares, that it intends to vote in favor of the Extension Amendment
Proposal, the Trust Amendment Proposal and the Adjournment Proposal.
As previously disclosed, on November 4, 2022, the NYSE
notified the Company, and publicly announced, that the NYSE determined to commence proceedings to delist the Companys warrants, each whole warrant exercisable for one Class A ordinary share and listed to trade on NYSE under the symbol
CHAA WS, from the NYSE and that trading in the warrants would be suspended immediately, due to abnormally low trading price levels pursuant to Section 802.01D of the NYSE Listed Company Manual. On November 22, 2022,
the NYSE filed a Form 25 with the SEC to delist the warrants. Since then, the public warrants have traded on the over-the-counter market. The Companys Class A
ordinary shares remain listed on the NYSE American under the symbol CHAA.
Our principal executive offices are located at
3 Raffles Place #06-01, Bharat Building, Singapore 048617 and our telephone number is +65-6829-2294.