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
Date of Report (Date of earliest event reported): December 26, 2023
AI Transportation Acquisition Corp
(Exact name of registrant as specified in its charter)
Cayman islands | 001-41860 | N/A | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |
10 East 53rd Street, Suite 3001
New York, NY 10022
(Address of principal executive offices, including zip code)
+ (86) 1350 1152063
(Registrant’s telephone number, including area code)
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 (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
th of one Ordinary Share | ||||
Rights included as part of the Units | AITRW | 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 or Rule 12b-2 of the Securities Exchange Act of 1934.
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 8.01. Other Events
As previously reported on Form 8-K, on November 10, 2023, AI Transportation Acquisition Corp (the “Company”) completed its initial public offering (the “Offering”) of 6,000,000 units (the “Units”). Each Unit consists of one ordinary share, par value $0.0001 per share, of the Company (the “Ordinary Shares”), and one right (the “Rights”), each Right entitles the holder thereof to receive one-eighth (1/8) of one Ordinary Share upon the consummation of an initial business combination, subject to adjustment, pursuant to the Company’s registration statement on Form S-1 (File No. 333-270558). The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $60,000,000.
Also as previously reported, the Company granted the underwriters (the “Underwriters”) a 45-day option to purchase up to 900,000 Units to cover over-allotments, if any. On December 26, 2023, the Underwriters advised the Company that it has elected not to exercise the over-allotment option and thereby forfeit the option. As a result, the Company is required to cancel a total of 225,000 of the Company’s sponsor shares, issued to AI Transportation Corp, a BVI corporation, that are subject to forfeiture, thereby reducing the sponsor’s total shares to 1,500,000
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
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.
Dated: December 29, 2023 | ||
AI TRANSPORTATION ACQUISITION CORP | ||
By: | /s/ Yongjin Chen | |
Name: | Yongjin Chen | |
Title: | Chief Executive Officer and Chairman |