Yotta Acquisition CORP

Market Movers (8-K)

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Yotta Acquisition Corporation stockholders approved an extension to complete a business combination until April 22, 2027.
Delay expected
Capital raise
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Yotta Acquisition Corporation reports the death of board member Brandon Miller and subsequent appointment of Qi Gong as Audit Committee Chairperson and Ping Zhang as a new board member.
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Yotta Acquisition Corporation dismisses Marcum LLP as its independent auditor and engages CBIZ CPAs, effective April 29, 2025.
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Yotta Acquisition Corporation received notice from Nasdaq that its securities will be delisted due to failure to complete a business combination within the required timeframe and unpaid fees.
Delay expected
Worse than expected
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Yotta Acquisition Corporation has entered into agreements for $61.894 million in financing and amended its merger agreement with DRIVEiT Financial Auto Group.
Capital raise
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Yotta Acquisition Corporation has secured shareholder approval to extend its deadline for completing a business combination to October 22, 2025, with a mechanism for monthly extensions.
Delay expected

Quarterly Earnings (10-Q)

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Yotta Acquisition Corporation reports a net loss for Q1 2025 and faces delisting from Nasdaq due to failure to complete a business combination within the required timeframe.
Worse than expected
Delay expected
Capital raise
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Yotta Acquisition Corporation reported a net income of $73,893 for the third quarter of 2024, while actively pursuing a merger with DRIVEiT Financial Auto Group.
Worse than expected
Delay expected
Capital raise
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Yotta Acquisition Corporation's Q2 2024 results show a net income of $233,436, influenced by interest and other income, while the company continues to seek a business combination.
Worse than expected
Delay expected
Capital raise
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Yotta Acquisition Corporation reported a net loss of $41,580 for the first quarter of 2024, as it continues to seek a business combination.
Worse than expected
Delay expected
Capital raise

Annual Reports (10-K)

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Yotta Acquisition Corporation's 10-K filing reveals substantial doubt about its ability to continue as a going concern, despite entering a merger agreement with DRIVEiT Financial Auto Group, due to an approaching deadline for completing a business combination and material weaknesses in internal controls.
Delay expected
Capital raise
Worse than expected
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Yotta Acquisition Corporation's 2023 annual report reveals a net income of $1.4 million, but also highlights significant challenges including a terminated merger agreement and substantial doubt about the company's ability to continue as a going concern.
Delay expected
Capital raise
Worse than expected

Insider Trading (Form 4)

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Yotta Acquisition Corporation announces a Securities Purchase Agreement for a convertible note and a PIPE investment to support its merger with DRIVEiT Financial Auto Group.
Capital raise
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Yotta Acquisition Corporation will merge with DRIVEiT Financial Auto Group, an electric vehicle superstore operator, in a deal valued at $100 million, aiming to close in the first half of 2025.
Capital raise

Proxy Statements (Def-14A)

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Yotta Acquisition Corporation stockholders approved an extension of the deadline to complete a business combination until April 22, 2027, with the sponsor agreeing to monthly contributions to the trust account.
Delay expected
Capital raise
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Yotta Acquisition Corporation is seeking stockholder approval to extend its business combination deadline to April 22, 2027, without requiring further monthly contributions from its sponsor to the trust account.
Delay expected
Worse than expected
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Yotta Acquisition Corporation proposes extending its business combination deadline to April 2027 and modifying its net tangible asset requirement, while its sponsor ceases monthly trust account contributions.
Worse than expected
Capital raise
Delay expected
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Yotta Acquisition Corporation adjourned its annual meeting of stockholders for a second time to August 22, 2024, without conducting any business other than approving the adjournment proposal.
Worse than expected
Delay expected
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Yotta Acquisition Corporation adjourned its annual meeting of stockholders to August 20, 2024, without conducting any business other than approving the adjournment proposal.
Delay expected
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Yotta Acquisition Corporation is seeking stockholder approval to extend the deadline for completing a business combination from August 22, 2024, to October 22, 2025.