8-K: Western Acquisition Ventures Corp. Amends Merger Agreement with Cycurion, Inc.

Western Acquisition Ventures Corp. has amended its merger agreement with Cycurion, Inc., extending the termination date to December 31, 2024, and modifying certain economic terms.

Summary

• Western Acquisition Ventures Corp. has amended its business combination agreement with Cycurion, Inc.
• The amendment extends the termination date for the business combination from December 31, 2023, to December 31, 2024.
• Certain economic terms at the closing of the business combination have also been amended.
• The original agreement was dated November 21, 2022.
• The merger involves Western Acquisition Merger Inc., a subsidiary of Western Acquisition Ventures Corp., merging with Cycurion, Inc.
• Cycurion will survive the merger as a wholly-owned subsidiary of Western Acquisition Ventures Corp.

Sentiment

Score: 5

Explanation: The document is neutral in tone, simply stating the facts of the amendment. There is no indication of positive or negative sentiment, it is a procedural update.

Positives

• The extension of the termination date provides more time to complete the merger.
• The amendment allows for adjustments to the economic terms of the deal.

Risks

• The merger is still subject to various conditions and may not be completed.
• Changes in economic conditions could impact the terms of the agreement.

Future Outlook

The document indicates the parties intend to complete the merger by the new termination date of December 31, 2024, subject to the satisfaction of all conditions.

Management Comments

• James P. McCormick, President and CEO of Western Acquisition Ventures Corp., signed the report on behalf of the company.

Industry Context

This announcement is typical of special purpose acquisition companies (SPACs) that need to extend deadlines to complete their mergers. The extension suggests that the original timeline was not feasible and that more time is needed to finalize the deal.

Comparison to Industry Standards

• SPAC mergers often face delays and require amendments to their agreements.
• The extension of the termination date is a common occurrence in the SPAC market.
• The modification of economic terms is also not unusual as market conditions change.

Stakeholder Impact

• Shareholders of Western Acquisition Ventures Corp. will need to approve the extension.
• Cycurion, Inc. will continue to operate as a private company until the merger is completed.

Next Steps

• The parties will continue to work towards completing the merger by the new termination date.
• The parties will need to satisfy all conditions outlined in the agreement.

Key Dates

Keywords

merger, acquisition, business combination, Cycurion, Western Acquisition Ventures Corp, amendment, agreement, termination date