Insight Acquisition Completes Merger with Alpha Modus Holdings, Inc.

Insight Acquisition Corp. (OTCMKTS: INAQU) announced on December 13, 2024, the completion of its merger with Alpha Modus Holdings, Inc. The merger was carried out in accordance with a Business Combination Agreement dating back to October 13, 2023. The closing of the merger signifies Insight Acquisition Corp.’s transformation into Alpha Modus Holdings, Inc.

As part of the merger agreement, Insight Acquisition Corp.’s stockholders had previously approved the transactions at a special meeting held on October 29, 2024. The merger involved Alpha Modus Holdings, Inc. combining with Merger Sub, a subsidiary of Insight Acquisition Corp., resulting in Alpha Modus Holdings as the surviving company and a wholly-owned entity of Insight Acquisition Corp.

The conversion of securities during the merger included common stock shares of Legacy Alpha Modus being exchanged for a mix of contingent rights and shares of Class A common stock of Insight Acquisition Corp. Additionally, preferred shares of Legacy Alpha Modus were converted into contingent rights and shares of IAC Series C Preferred Stock, forming the merger consideration.

A significant aspect of the deal includes the issuance of earnout shares to Legacy Alpha Modus stakeholders based on specific stock price milestones over a period post-closing. Furthermore, Insight Acquisition Corp.’s sponsor deposited shares into escrow and agreed to milestones akin to the earnout shares for additional issuance.

Concurrently, Insight Acquisition Corp. entered into a Securities Purchase Agreement in October 2024 with Streeterville Capital, LLC, resulting in the issuance of a convertible promissory note to Streeterville Capital, which later included revised terms under an Amended SPA as of December 12, 2024.

The transaction details, agreements, and related documents have been filed with the SEC and are specified within the Form 8-K filing. The overall process and agreement terms are aimed at enhancing the operations and financial structure of the combined entity post-merger.

Following the merger, the company’s Class A common stock and warrants are now trading on the Nasdaq Stock Market under the symbols “AMOD” and “AMODW,” respectively, effective December 16, 2024. This transition marks a significant milestone for Insight Acquisition Corp., now known as Alpha Modus Holdings, Inc., as it moves forward post-merger completion.

The Form 8-K filing provides comprehensive information regarding the merger, financial agreements, as well as future plans and considerations for Alpha Modus Holdings, Inc. stakeholders and the investment community. It offers insights into the expanded operational scope and the strategic direction of the merged entity in the evolving financial landscape.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Insight Acquisition’s 8K filing here.

Insight Acquisition Company Profile

Insight Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on business in the FinTech, wealth, asset, investment management, and insurance tech sectors.