UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| The Stock Market LLC | ||||
| The Stock Market LLC | ||||
| The 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).
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
| (a) | Resignation of Chief Executive Officer |
On November 29, 2024, Gary Challinor, Chief Executive Officer of Cactus Acquisition Corp. 1 Limited (the “Company”), resigned from his position, effective immediately. Mr. Challinor’s resignation was not due to any disagreement with the Company on any matter relating to its operations, policies, or practices. The Company extends its gratitude to Mr. Challinor for his leadership and contributions.
| (b) | Appointment of New Chief Executive Officer |
On November 29, 2024, the Company’s Board of Directors appointed Adam Ridgway as Chief Executive Officer. Mr. Ridgway is an accomplished entrepreneur and sustainability advocate with extensive experience in sustainable product development and electric vehicle innovation. He is the founder and CEO of ONE MOTO, an award-winning electric vehicle manufacturer focused on smart mobility solutions for urban commuters and the last-mile delivery sector. Under his leadership, ONE MOTO has expanded operations to multiple countries, including the UAE, UK, and India. Mr. Ridgway’s expertise in international growth, partnerships, and innovation positions him well to lead the Company in its strategic initiatives.
| (c) | Appointment of New Independent Director |
On November 29, 2024, the Board appointed Rainer Michael Preiss as an independent director, effective immediately. Mr. Preiss is a seasoned investment advisor with over 25 years of experience in global private banking and multi-family office businesses across Europe, the Middle East, Africa, and Asia. He currently serves as Partner and Portfolio Strategist at Das Family Office in Singapore. Previously, he was the Chief Equity Strategist at Standard Chartered Bank, where he was a voting member of the Global Investment Council. Mr. Preiss is also a recognized financial media contributor and has served as a visiting lecturer of finance in various universities. His extensive experience in investment strategy and emerging markets will provide valuable insights to the Company’s Board.
SIGNATURES
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.
Dated: December 9, 2024
| CACTUS ACQUISITION CORP. 1 LIMITED | ||
| By: | /s/ Adam Ridgway | |
| Adam Ridgway | ||
| Chief Executive Officer | ||