Item 8.01. Other Events
On May 15, 2023, Achari Ventures Holdings Corp. I, a Delaware company (the
"Company"), notified Continental Stock Transfer & Trust Company, the trustee of
the Company's trust account (the "Trust Account"), that it was extending (an
"Extension") the time available to the Company to consummate its initial
business combination, from May 19, 2023 to June 19, 2023 (the "Fifth
Extension"), pursuant to and in accordance with the terms of the Company's Third
Amended and Restated Certificate of Incorporation (the "Certificate of
Incorporation") and the Company's Amended and Restated Investment Management
Trust Agreement (the "Trust Agreement"). The Fifth Extension is the fifth of up
to six (6) one-month Extensions permitted under the Company's Certificate of
Incorporation and Trust Agreement.
Pursuant to the terms of the Company's Certificate of Incorporation and Trust
Agreement, on May 15, 2023, with respect to the exercise of the Fifth Extension,
the Company deposited $50,973.25 into the Company's Trust Account in connection
with the exercise of the Fifth Extension. Such deposit with respect to the Fifth
Extension was made using funds held outside of the Company's Trust Account and
available to the Company to fund working capital requirements. As of May 16,
2023 (and, for the avoidance of doubt, inclusive of the deposit of $50,973.25
into the Trust Account in connection with the exercise of the Fifth Extension as
described above), the Trust Account held approximately $10,920,747.20.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
ACHARI VENTURES HOLDINGS CORP. I 
