Black Hawk Acquisition Corporation shareholders approved the proposed business combination with Vesicor Therapeutics, Inc. The vote concluded at an extraordinary general meeting held on October 13, 2026.

Meeting details and quorum

The meeting required a record date of September 1, 2026. As of that date, 4,153,577 ordinary shares were issued and outstanding and entitled to vote. Shareholders representing approximately 77.3% of these shares participated in person or by proxy, constituting a valid quorum for the proceedings.

Voting outcomes

Shareholders voted on eight proposals detailed in the company's definitive proxy statement. The primary proposal concerned the Business Combination Agreement dated April 26, 2025. This agreement involves Black Hawk Acquisition Corporation, Vesicor Therapeutics, Inc., and BH Merger Sub, Inc.

The Business Combination Proposal was approved by ordinary resolution. This approval clears a significant regulatory hurdle for the transaction contemplated by the agreement.

Black Hawk Acquisition Corporation and Vesicor Therapeutics, Inc. entered into a forward purchase agreement with Meteora Select Trading Opportunities Master, LP on September 22, 2026. The deal covers up to 1,350,000 shares in connection with the company’s business combination.

Under the OTC Equity Prepaid Forward Transaction confirmation, the shares may consist of Recycled Shares purchased by Meteora from third parties or Additional Shares purchased directly from the company. The aggregate number of these shares cannot exceed the maximum limit of 1.35 million.

Domestication and name change

As part of the Business Combination Agreement dated April 26, 2025, Black Hawk Acquisition Corporation will domesticate as a Delaware corporation. The entity will change its name to Vesicor Therapeutics Holdings, Inc. Vesicor Therapeutics, Inc. will become a wholly owned subsidiary of the new public company.

Pricing and payment mechanics

The initial price under the agreement equals the per-share redemption price payable to holders of public ordinary shares during the business combination. At closing, the company will pay Meteora a prepayment amount from the trust account. This amount is calculated as the number of shares specified in the pricing date notice multiplied by the Initial Price, reduced dollar-for-dollar by the purchase price funded by Meteora for any Additional Shares.

The reset price is initially set at $10.00 per share. This figure may be reduced by mutual written agreement or upon certain dilutive offerings.

What the Numbers Show

The structure of the prepayment amount creates a direct offset between trust account outflows and new capital injection. By reducing the prepayment dollar-for-dollar by the purchase price of Additional Shares, the company effectively nets the cash impact of Meteora’s direct investment against the redemption obligation. This mechanism ensures that Meteora’s total exposure remains capped at the value of the forward contract while allowing the company to retain cash equivalent to the additional equity purchased.