Class Acceleration Corp. Amends Charter And Announces Decision To Liquidate

On December 20, 2022, the stockholders of Class Acceleration Corp. (the “Company”) approved (i) an amendment to the Company’s second amended and restated certificate of incorporation (the “Charter”) to extend the date by which the Company would be required to consummate a business combination from January 20, 2023 to June 20, 2023 (the “Extension Amendment”), (ii) an amendment to the Charter to permit the Company’s Board, in its sole discretion, to elect to wind up the Company’s operations on an earlier date (the “Liquidation Amendment” and, together with the Extension Amendment, the “Charter Amendments”), (iii) an amendment to the Company’s investment management trust agreement, dated as of January 14, 2021, by and between the Company and Continental Stock Transfer & Trust Company, to extend the date by which the Company would be required to consummate a business combination from January 20, 2023 to June 20, 2023, or such earlier date as determined by the Board in its sole discretion, and (iv) a proposal to ratify the selection by the audit committee of the Board of Marcum LLP to serve as the Company’s independent registered public accounting firm for the year ending December 31, 2022. The Company filed the Extension Amendment and the Liquidation Amendment with the Secretary of State of the State of Delaware and executed the Trust Agreement on December 20, 2022.