Form 8-K Achari Ventures Holdings For: Nov 17

 

 

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): November 17, 2021

 

 

ACHARI VENTURES HOLDINGS CORP. I

(Exact name of registrant as specified in its charter)

 

 

 

Delaware		001-40906		86-1671207
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

60 Walnut Avenue, Suite 400

Clark, NJ 07066

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (732) 340-0700

Not Applicable

(Former name or former address, if changed since last report)

 

 

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

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Units, each consisting of one share of Common Stock, par value $0.0001 per share, and one redeemable Warrant		AVHIU		The Nasdaq Stock Market LLC
Shares of Common Stock, par value $0.0001 per share, included as part of the Units		AVHI		The Nasdaq Stock Market LLC
Redeemable Warrants, each exercisable for three quarters of one share of Common Stock for $11.50 per share, included as part of the Units		AVHIW		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 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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.

On November 17, 2021, Achari Ventures Holdings Corp. I (the “Company”) issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing that the holders of the Company’s units (the “Units”) may elect to separately trade the shares of common stock, par value $0.0001 per share (“Common Stock”), and one redeemable warrant (“Warrant”), included in the Units commencing on or about November 17, 2021. Each Unit consists of one share of Common Stock and one redeemable Warrant with each whole Warrant entitling the holder thereof to purchase three-quarters of one share of Common Stock. Any Units not separated will continue to trade on The Nasdaq Global Market (“Nasdaq”) under the symbol “AVHIU”, and the shares of Common Stock and Warrants will separately trade on Nasdaq under the symbols “AVHI” and “AVHIW”, respectively. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. Holders of Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the Units into Common Stock and Warrants.

Item 9.01. Financial Statement and Exhibits.

(d) Exhibits

 

Exhibit No.		Description
99.1		Press Release, dated November 17, 2021

SIGNATURE

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.

 

		ACHARI VENTURES HOLDINGS CORP. I
		By:		/s/ Vikas Desai
				Name:		Vikas Desai
				Title:		Chief Executive Officer
Dated: November 17, 2021

Exhibit 99.1

Achari Ventures Holdings Corp. I Announces the Separate Trading of its Shares of Common Stock

and Warrants, Commencing November 17, 2021

NEW YORK, NY – Achari Ventures Holdings Corp. I (Nasdaq: AVHIU) (the “Company”) announced today that, commencing November 17, 2021, holders of the units sold in the Company’s initial public offering of 10,000,000 units completed on October 20, 2021 may elect to separately trade the Company’s shares of common stock and warrants included in the units.

No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The shares of common stock and warrants that are separated will trade on The Nasdaq Global Market (“Nasdaq”) under the symbols “AVHI” and “AVHIW,” respectively. Those units not separated will continue to trade on Nasdaq under the symbol “AVHIU.” Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of common stock and warrants.

The units were initially offered by the Company in an underwritten offering. Chardan served as sole bookrunner. A registration statement relating to the units and the underlying securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on October 14, 2021.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained by contacting Chardan, 17 State Street, 21st Floor, New York, New York 10004.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. No assurance can be given as to the consummation of any business combination or the terms thereof. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the initial public offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

About Achari Ventures Holdings Corp. I

Achari Ventures Holdings Corp. I is a newly organized blank check company formed by Achari Sponsor Holdings I LLC, which is an affiliate of Achari Ventures, an investment firm that invests in cannabis and cannabis-related companies.

Investor Contact

Rob Kelly

MATTIO Communications

416-992-4539

[email protected]