Latest Non-Redemption Agreements: Capitalworks Emerging Markets, and GSR II Meteora
Capitalworks Emerging Markets (CMCA) Adds Non-Redemption Agreement
On May 18, 2023, Capitalworks Emerging Markets Acquisition Corp. (NASDAQ:CMCA) and the Company’s sponsor, CEMAC Sponsor LP, entered into additional non-redemption agreements with certain unaffiliated third parties in exchange for the Holder or Holders agreeing either not to request redemption, or to reverse any previously submitted redemption demand with respect to certain Class A ordinary shares.
In consideration of the foregoing agreement, immediately prior to, and substantially concurrently with, the closing of an initial business combination, the Sponsor will surrender and forfeit to the company for no consideration certain Class B ordinary shares and the company shall issue to the Holders a number of Class A ordinary shares equal to the Forfeited Shares.
As of the date of this report, CMCA has entered into Non-Redemption Agreements with respect to an aggregate of 4,000,000 Class A ordinary shares, and has agreed to issue an aggregate of 1,000,000 Class A ordinary shares while the Sponsor has agreed to surrender and forfeit an aggregate of 1,000,000 Forfeited Shares for no consideration immediately prior to, and substantially concurrently with, the closing of an initial business combination.
READGSR II Meteora Acquisition Corp. (GSRM) Adds Non-Redemption Agreement
On May 18, 2023, GSR II Meteora Acquisition Corp. (NASDAQ:GSRM) entered into voting and non-redemption agreements with unaffiliated third parties in exchange for such Non-Redeeming Stockholders agreeing to either not redeem or to reverse any previously submitted redemption request with respect to an aggregate of 6,033,000 shares of the Company’s Class A common stock.
In exchange for the foregoing commitments not to redeem such Non-Redeemed Shares, the company has agreed to issue to the Non-Redeeming Stockholders an aggregate of 60,330 shares of the Company’s Class A common stock.
If the Extension Proposal is approved, the Non-Redeeming Stockholders shall be entitled to receive up to 120,660 shares of Class A common stock in connection with the Initial Extension and for each Monthly Extension that occurs prior to the closing of an initial business combination.
READ
Cohen Circle Acquisition Corp. II (NASDAQ:CCIIU) announced the pricing of its $220 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “CCIIU”, Tuesday, July 1, 2025. The new SPAC plans to combine with a target company in the financial services technology (fintech) sector and fintech adjacent sectors that...
Indigo Acquisition Corp. (NASDAQ:INACU) announced the pricing of its $100 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “INACU”, Tuesday, July 1, 2025. The new SPAC plans to combine with an established, profitable company whose growth potential can benefit from its team’s expertise. Indigo’s management team is...
After a quiet June, July is set to be active throughout the month with nine de-SPACs and sponsors coming unlocked from their trading restrictions. This timing is most fortuitous for insurance investor Abacus Life (NASDAQ:ABL) and East Resources, which took it public in 2023, as it is the best performer of this group of companies...
Pyrophyte II (NYSE:PAII.U) has filed for a $175 million SPAC to dig for a natural resources target while the team’s first deal remains pending. The new SPAC is offering investors 1/2 warrants in each unit and it will have 24 months to complete a business combination without asking shareholders for an extension. It is the...
At the SPAC of Dawn The last day of the quarter is to play host to a pair of shareholder votes and a possible pricing of Indigo‘s (NASDAQ:INACU) $100 million IPO. This week is also to play host to fresh jobs numbers just before the long July 4 weekend. Black Hawk (NASDAQ:BKHA) was also one...