On June 16, 2026, shareholders approved an amendment to extend the deadline for the company to complete a business combination from June 20, 2026, to December 20, 2026. In connection with this vote, holders of 12,076,077 Class A Ordinary Shares redeemed them for approximately $10.89 per share, totaling approximately $131.5 million. Following these redemptions, 3,923,923 Public Shares remain outstanding. Shareholders also ratified the selection of WithumSmith+Brown, PC as the independent registered public accounting firm for the year ending December 31, 2026. The company is a special purpose acquisition company (SPAC) formed to effect a business combination.

Melar Acquisition Corp. I announced an update to the terms of an extension regarding its trust account. The Sponsor, Melar Acquisition Sponsor I LLC, will increase its maximum monthly contribution to the Trust Account from $40,000 to $80,000, while maintaining the variable component of $0.02 for each Public Share not redeemed. This update is part of a solicitation for an extraordinary general meeting scheduled for June 16, 2026, to vote on an extension amendment proposal. The company is a blank check special purpose acquisition company.

Melar Acquisition Corp. I issued a $1,500,000 promissory note to its sponsor, Melar Acquisition Sponsor I LLC, to cover working capital advances, with $223,079.12 already advanced. The note is interest-bearing at 17.5% per annum and includes an option for the sponsor to convert up to $1,500,000 of unpaid principal into warrants at a $1.00 conversion price. Additionally, the company issued 5,621,621 Class A Ordinary Shares to the sponsor via a conversion of Class B ordinary shares. Melar Acquisition Corp. I is a blank check company operating in the SPAC sector.